PBF Energy (NYSE:PBF) SVP Sells $1,822,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 50,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the transaction, the senior vice president owned 200,744 shares of the company’s stock, valued at $7,315,111.36. This trade represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

PBF Energy Trading Up 0.0%

NYSE PBF opened at $36.84 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $30.82 and its two-hundred day simple moving average is $25.21. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $38.58. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -7.92 and a beta of 0.79.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The company’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.50) EPS. Research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. PBF Energy’s dividend payout ratio (DPR) is -23.66%.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently bought and sold shares of PBF. Merit Financial Group LLC grew its holdings in shares of PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 276 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of PBF Energy by 9.8% during the third quarter. PNC Financial Services Group Inc. now owns 6,894 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 617 shares in the last quarter. Cidel Asset Management Inc. purchased a new stake in PBF Energy in the third quarter worth $250,000. Assetmark Inc. raised its holdings in PBF Energy by 1.5% in the third quarter. Assetmark Inc. now owns 59,970 shares of the oil and gas company’s stock worth $1,809,000 after purchasing an additional 884 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in PBF Energy by 7.8% during the third quarter. Oppenheimer & Co. Inc. now owns 14,719 shares of the oil and gas company’s stock valued at $444,000 after buying an additional 1,070 shares during the period. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Tudor Pickering lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Morgan Stanley set a $27.00 price objective on PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. UBS Group boosted their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group increased their target price on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Scotiabank lifted their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus price target of $27.83.

About PBF Energy

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.