PBF Energy (NYSE:PBF) Shares Down 7.7% Following Insider Selling

Key Points

• Shares of PBF Energy fell about 7.7% to near $39.90 on Monday after the market opened, with 2.8 million shares traded (roughly 22% below average volume).
• Insiders sold a large block of stock—SVP Paul T. Davis sold 50,000 shares and Control Empresarial De Capital sold a combined ~1.11 million shares—totaling about 1.16 million shares for roughly $50.3 million in proceeds.
• Analyst coverage is mixed but tepid: the consensus rating is "Reduce" with an average price target of $30.21, while broker ratings range from Buy to Sell (two Buys, nine Holds, five Sells).

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price traded down 7.7% on Monday after an insider sold shares in the company. The company traded as low as $39.63 and last traded at $39.90. 2,803,516 shares changed hands during trading, a decline of 22% from the average session volume of 3,585,592 shares. The stock had previously closed at $43.25.

Specifically, SVP Paul T. Davis sold 50,000 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $44.80, for a total value of $2,240,000.00. Following the sale, the senior vice president owned 183,426 shares of the company's stock, valued at $8,217,484.80. The trade was a 21.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Control Empresarial De Capital sold 205,000 shares of PBF Energy stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $46.57, for a total value of $9,546,850.00. Following the transaction, the insider directly owned 26,264,098 shares of the company's stock, valued at approximately $1,223,119,043.86. The trade was a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other PBF Energy news, insider Control Empresarial De Capital sold 903,100 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the transaction, the insider directly owned 26,469,098 shares in the company, valued at $1,128,112,956.76. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of recent research reports. Mizuho raised shares of PBF Energy from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $31.00 to $38.00 in a research note on Friday, December 12th. Wolfe Research lowered shares of 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. Weiss Ratings reissued a "sell (d)" rating on shares of PBF Energy in a research note on Monday, December 29th. BMO Capital Markets restated a "market perform" rating and issued a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Finally, Citigroup lifted their price objective on PBF Energy from $29.00 to $36.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $30.21.

PBF Energy Stock Down 8.5%

The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The firm's fifty day moving average price is $33.46 and its 200-day moving average price is $31.94. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -26.93, a price-to-earnings-growth ratio of 5.80 and a beta of 0.41.

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

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. PBF Energy's dividend payout ratio is currently -74.83%.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after buying an additional 589 shares during the last quarter. Torren Management LLC bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter worth approximately $31,000. Deseret Mutual Benefit Administrators raised its holdings in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 440 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 912 shares during the period. 96.29% of the stock is owned by institutional investors.

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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