PBF Energy (NYSE:PBF) SVP Sells $5,557,500.00 in Stock

Key Points

• PBF Energy SVP Trecia Canty sold 75,000 shares at an average price of $74.10, generating $5.56 million and reducing her holdings by 28.11% to 191,779 shares.
• PBF Energy stock rose 4.4% to $75.04, near its 12-month high, after the company reported quarterly EPS of $6.22—beating estimates by $2.07—and revenue growth of 56.2% year over year.
• The company declared a quarterly dividend of $0.275 per share, equivalent to $1.10 annually and a 1.5% yield, while analyst sentiment remained mixed with a consensus “Reduce” rating and a $50.15 target price.

PBF Energy Inc. (NYSE:PBF - Get Free Report) SVP Trecia Canty sold 75,000 shares of PBF Energy stock in a transaction on Friday, August 14th. The shares were sold at an average price of $74.10, for a total value of $5,557,500.00. Following the transaction, the senior vice president owned 191,779 shares of the company's stock, valued at $14,210,823.90. The trade was a 28.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

PBF Energy Stock Up 4.4%

PBF Energy stock traded up $3.19 during mid-day trading on Monday, hitting $75.04. The company had a trading volume of 2,944,438 shares, compared to its average volume of 3,371,942. PBF Energy Inc. has a 12 month low of $22.13 and a 12 month high of $75.68. The company has a market capitalization of $8.90 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The stock's 50 day moving average price is $54.37 and its two-hundred day moving average price is $45.46. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

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

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy's dividend payout ratio is 9.73%.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company's stock valued at $180,000 after acquiring an additional 242 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company's stock valued at $326,000 after acquiring an additional 260 shares in the last quarter. Merit Financial Group LLC grew its holdings in PBF Energy by 3.4% in the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company's stock worth $268,000 after purchasing an additional 325 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company's stock worth $375,000 after purchasing an additional 383 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PBF Energy by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company's stock valued at $863,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PBF shares. Morgan Stanley lifted their target price on shares of PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, June 12th. Citigroup raised their price target on shares of PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. UBS Group boosted their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PBF Energy in a research report on Friday, August 7th. Finally, Zacks Research upgraded PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, PBF Energy has an average rating of "Reduce" and a consensus target price 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.

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