PBF Energy (NYSE:PBF) Insider Sells $9,587,600.00 in Stock

Key Points

• Control Empresarial De Capital sold 220,000 PBF Energy shares on June 3 for about $9.59 million, trimming its position by 1.19%. The insider has also made several other large sales in recent weeks.
• PBF Energy shares were up 0.6% to $42.79 in Thursday trading, with the stock sitting near its 50-day moving average and well above its 200-day average. The company’s market cap is about $5.06 billion.
• The company recently reported quarterly EPS of -$0.88, missing estimates, though revenue of $7.90 billion beat expectations and rose 11.9% year over year. PBF also paid a quarterly dividend of $0.275 per share, implying a 2.6% yield.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 220,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $43.58, for a total value of $9,587,600.00. Following the completion of the sale, the insider owned 18,217,698 shares of the company's stock, valued at approximately $793,927,278.84. This trade represents a 1.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The shares were sold at an average price of $43.56, for a total value of $1,350,360.00.
• On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $44.87, for a total value of $8,974,000.00.
• On Tuesday, May 5th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $45.91, for a total value of $10,100,200.00.
• On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The shares were sold at an average price of $44.41, for a total value of $133,230.00.
• On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00.
• On Tuesday, April 7th, Control Empresarial De Capital sold 70,000 shares of PBF Energy stock. The shares were sold at an average price of $47.10, for a total value of $3,297,000.00.
• On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The shares were sold at an average price of $46.18, for a total value of $6,003,400.00.
• On Friday, March 27th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $50.52, for a total value of $30,312,000.00.
• On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The shares were sold at an average price of $49.96, for a total value of $31,824,520.00.
• On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $50.74, for a total value of $10,148,000.00.

PBF Energy Stock Up 0.6%

NYSE:PBF traded up $0.24 during trading hours on Thursday, hitting $42.79. 1,608,177 shares of the company's stock traded hands, compared to its average volume of 3,528,245. The stock's fifty day moving average price is $42.47 and its two-hundred day moving average price is $37.18. The firm has a market cap of $5.06 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.16 and a beta of 0.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy Inc. has a twelve month low of $17.53 and a twelve month high of $52.18.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to analysts' expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted ($3.53) earnings per share. On average, research analysts expect that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy's dividend payout ratio (DPR) is presently 29.65%.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of PBF. Goldman Sachs Group Inc. lifted its stake in shares of PBF Energy by 127.9% during the fourth 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 acquiring an additional 3,550,820 shares during the period. State Street Corp increased 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 valued at $131,661,000 after purchasing an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company's stock valued at $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock valued at $153,452,000 after purchasing an additional 1,137,533 shares during the last quarter. Finally, Invesco Ltd. boosted its position in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock valued at $83,639,000 after purchasing an additional 1,651,516 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Analysts Set New Price Targets

PBF has been the topic of a number of recent analyst reports. Mizuho raised their price objective on PBF Energy from $43.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded PBF Energy from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Scotiabank lifted their price target on PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Piper Sandler lifted their price target on PBF Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Finally, BMO Capital Markets lifted their price target on PBF Energy from $43.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, PBF Energy currently has an average rating of "Reduce" and an average price target of $36.15.

About PBF Energy

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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