PBF Energy (NYSE:PBF) Insider Sells $22,193,440.00 in Stock

Key Points

• Control Empresarial De Capital sold 472,000 PBF shares on March 23 at an average of $47.02 for a $22,193,440 transaction, part of a multi‑day selling spree (including 1.1M shares on March 18) that reduced its stake by 2.09%.
• PBF shares jumped about 7.5% to roughly $50.08 (near a 52‑week high of $50.64); the company beat quarterly EPS estimates but still has a negative net margin, a consensus "Reduce" rating with an average target of $31.69, and recently declared a quarterly dividend of $0.275 (2.2% yield).

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 472,000 shares of the company's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $47.02, for a total transaction of $22,193,440.00. Following the completion of the transaction, the insider owned 22,132,898 shares of the company's stock, valued at $1,040,688,863.96. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Control Empresarial De Capital also recently made the following trade(s):

• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The shares were sold at an average price of $48.84, for a total value of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The stock was sold at an average price of $50.18, for a total value of $2,609,360.00.
• On Wednesday, March 18th, Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00.
• On Tuesday, March 17th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $44.43, for a total value of $26,658,000.00.
• On Monday, March 16th, Control Empresarial De Capital sold 49,200 shares of PBF Energy stock. The shares were sold at an average price of $44.29, for a total value of $2,179,068.00.
• On Friday, March 13th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The stock was sold at an average price of $43.30, for a total value of $16,454,000.00.
• On Thursday, March 12th, Control Empresarial De Capital sold 265,000 shares of PBF Energy stock. The stock was sold at an average price of $43.55, for a total value of $11,540,750.00.
• On Wednesday, March 11th, Control Empresarial De Capital sold 838,000 shares of PBF Energy stock. The shares were sold at an average price of $41.91, for a total value of $35,120,580.00.
• On Tuesday, March 10th, Control Empresarial De Capital sold 22,000 shares of PBF Energy stock. The shares were sold at an average price of $40.08, for a total value of $881,760.00.
• On Thursday, March 5th, Control Empresarial De Capital sold 205,000 shares of PBF Energy stock. The stock was sold at an average price of $46.57, for a total transaction of $9,546,850.00.

PBF Energy Stock Up 7.5%

Shares of NYSE PBF opened at $50.08 on Wednesday. The firm's fifty day moving average is $37.11 and its 200 day moving average is $33.46. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $50.64. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -34.07, a PEG ratio of 4.96 and a beta of 0.41.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.82) EPS. On average, equities research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, February 25th. PBF Energy's dividend payout ratio is currently -74.83%.

Institutional Trading of PBF Energy

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in PBF Energy by 127.9% during 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 buying an additional 3,550,820 shares in the last quarter. State Street Corp boosted its holdings in PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company's stock worth $131,661,000 after acquiring an additional 60,294 shares in the last quarter. Invesco Ltd. boosted its holdings in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock worth $83,639,000 after acquiring an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of PBF Energy by 20.1% in the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company's stock worth $75,524,000 after acquiring an additional 418,223 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of PBF Energy by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company's stock worth $65,108,000 after acquiring an additional 331,404 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PBF. Citigroup boosted their price target on PBF Energy from $29.00 to $36.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. BMO Capital Markets reiterated a "market perform" rating and issued a $34.00 price objective on shares of PBF Energy in a research report on Monday, January 5th. Mizuho boosted their target price on PBF Energy from $38.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. Wolfe Research downgraded PBF Energy from a "peer perform" rating to an "underperform" rating and set a $23.00 target price for the company. in a report on Monday, December 8th. Finally, Piper Sandler raised their price target on PBF Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $31.69.

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.

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