PBF Energy (NYSE:PBF) Insider Control Empresarial De Capital Sells 600,000 Shares

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 600,000 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $50.52, for a total value of $30,312,000.00. Following the completion of the sale, the insider owned 19,738,698 shares in the company, valued at $997,199,022.96. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Control Empresarial De Capital also recently made the following trade(s):

• On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The stock was sold at an average price of $49.96, for a total value of $31,824,520.00.
• On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $50.74, for a total value of $10,148,000.00.
• On Monday, March 30th, Control Empresarial De Capital sold 85,000 shares of PBF Energy stock. The shares were sold at an average price of $51.14, for a total value of $4,346,900.00.
• On Wednesday, March 25th, Control Empresarial De Capital sold 469,700 shares of PBF Energy stock. The shares were sold at an average price of $49.44, for a total value of $23,221,968.00.
• On Tuesday, March 24th, Control Empresarial De Capital sold 687,500 shares of PBF Energy stock. The stock was sold at an average price of $49.49, for a total transaction of $34,024,375.00.
• On Monday, March 23rd, Control Empresarial De Capital sold 472,000 shares of PBF Energy stock. The shares were sold at an average price of $47.02, for a total transaction of $22,193,440.00.
• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The shares were sold at an average price of $48.84, for a total transaction of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The stock was sold at an average price of $50.18, for a total transaction of $2,609,360.00.
• On Wednesday, March 18th, Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock. The shares were sold at an average price of $46.21, for a total transaction of $50,831,000.00.
• On Tuesday, March 17th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $44.43, for a total transaction of $26,658,000.00.

PBF Energy Stock Performance

PBF stock traded up $0.43 during mid-day trading on Thursday, hitting $46.52. 537,319 shares of the company were exchanged, compared to its average volume of 3,816,074. The business has a 50 day simple moving average of $39.28 and a 200-day simple moving average of $34.29. 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 stock has a market capitalization of $5.44 billion, a PE ratio of -31.65, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $52.18.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business posted ($2.82) earnings per share. PBF Energy’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s payout ratio is currently -74.83%.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently modified their holdings of PBF. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the period. Torren Management LLC acquired a new position in PBF Energy during the 4th quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new position in PBF Energy during the 4th quarter worth about $31,000. Deseret Mutual Benefit Administrators grew its position 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 valued at $35,000 after buying an additional 440 shares during the last quarter. Finally, Hantz Financial Services Inc. increased 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 buying an additional 912 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Mizuho increased their price objective on shares of PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Citigroup boosted their target price on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Piper Sandler increased their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of “Reduce” and a consensus price target of $31.69.

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.