Insider Selling: PBF Energy (NYSE:PBF) SVP Sells 50,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $51.48, for a total transaction of $2,574,000.00. Following the completion of the sale, the senior vice president owned 183,426 shares of the company’s stock, valued at approximately $9,442,770.48. The trade was a 21.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

PBF Energy Trading Up 0.5%

NYSE:PBF traded up $0.24 during trading hours on Thursday, reaching $46.33. 537,319 shares of the company were exchanged, compared to its average volume of 3,816,074. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -31.65, a PEG ratio of 0.59 and a beta of 0.24. The stock has a 50 day simple moving average of $39.28 and a 200 day simple moving average of $34.29. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $52.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.82) EPS. As a group, analysts predict 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 Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s payout ratio is -74.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PBF shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Zacks Research upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Citigroup raised their target price on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $31.69.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 589 shares during the period. Torren Management LLC purchased a new stake in shares of PBF Energy during the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy during the fourth quarter worth $31,000. Deseret Mutual Benefit Administrators lifted its position in shares of PBF Energy by 62.3% during the third 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 in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of PBF Energy by 235.7% in 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 and hedge funds.

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.