Trecia Canty Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

Key Points

• Trecia Canty, SVP of PBF Energy, sold 50,000 shares of the company's stock at an average price of $34.13, totaling $1.7 million, which decreased her ownership by 22.39%.
• PBF Energy reported a negative EPS of ($1.03) for the last quarter, beating estimates, with revenues of $7.48 billion, down 14.4% from the previous year.
• The company announced a quarterly dividend of $0.275 per share with an annualized yield of 3.6%, while maintaining a payout ratio of -12.81%.

PBF Energy Inc. (NYSE:PBF - Get Free Report) SVP Trecia Canty sold 50,000 shares of the firm's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the transaction, the senior vice president directly owned 173,332 shares in the company, valued at approximately $5,915,821.16. This represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

PBF Energy Price Performance

Shares of PBF traded down $1.74 during mid-day trading on Monday, reaching $30.88. The company had a trading volume of 4,724,281 shares, compared to its average volume of 3,669,890. The company's 50 day simple moving average is $26.31 and its 200 day simple moving average is $22.28. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $34.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -3.59 and a beta of 0.97.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company earned ($0.54) EPS. Analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $0.275 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.6%. PBF Energy's payout ratio is -12.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PBF shares. Wells Fargo & Company boosted their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Scotiabank restated a "sector perform" rating and set a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Mizuho upped their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the stock an "underperform" rating in a report on Monday, September 15th. Bank of America upped their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $26.38.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,248 shares during the period. Fifth Third Bancorp boosted its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 803 shares during the period. Allworth Financial LP boosted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in PBF Energy during the first quarter worth about $35,000. Finally, Neo Ivy Capital Management bought a new position in PBF Energy during the first quarter worth about $37,000. Institutional investors own 96.29% of the company's stock.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.

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