Joseph Daniel Marino Sells 4,033 Shares of PBF Energy (NYSE:PBF) Stock

Key Points

• PBF Energy CFO Joseph Daniel Marino sold 4,033 shares at an average price of $69.15, generating approximately $278,882 and reducing his direct stake by 7.63%.
• PBF shares rose 5.8% to $74.42, near their 52-week high, after the company reported quarterly EPS of $6.22—well above the $4.15 analyst estimate—and revenue growth of 56.2% year over year.
• The company declared a quarterly dividend of $0.275 per share, while analyst sentiment remained mixed: the consensus rating was “Reduce” with an average price target of $50.15.

PBF Energy Inc. (NYSE:PBF - Get Free Report) CFO Joseph Daniel Marino sold 4,033 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $69.15, for a total transaction of $278,881.95. Following the sale, the chief financial officer directly owned 48,851 shares of the company's stock, valued at $3,378,046.65. This represents a 7.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PBF Energy Stock Up 5.8%

Shares of NYSE:PBF traded up $4.08 during midday trading on Thursday, reaching $74.42. 2,389,783 shares of the company were exchanged, compared to its average volume of 3,378,214. The firm has a market cap of $8.82 billion, a PE ratio of 6.59, a P/E/G ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $74.74. The stock has a fifty day simple moving average of $53.15 and a two-hundred day simple moving average of $44.89. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company's revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.03) EPS. As a group, sell-side analysts forecast that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. PBF Energy's payout ratio is 9.73%.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its position in shares of PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company's stock valued at $1,840,000 after acquiring an additional 30,430 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the period. Brandywine Global Investment Management LLC lifted its stake in PBF Energy by 351.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company's stock valued at $7,200,000 after purchasing an additional 206,666 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in PBF Energy in the 4th quarter valued at about $1,485,000. Finally, Jefferies Financial Group Inc. grew its holdings in PBF Energy by 7,210.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company's stock worth $17,037,000 after purchasing an additional 619,622 shares during the period. 96.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of PBF Energy in a research report on Friday, August 7th. UBS Group upped their price target on PBF Energy from $62.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Mizuho increased their target price on shares of PBF Energy from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of PBF Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $50.15.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source