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 company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the transaction, the senior vice president directly owned 192,391 shares of the company’s stock, valued at $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PBF Energy Stock Down 3.8%

PBF stock traded down $1.51 during midday trading on Wednesday, reaching $38.73. 2,043,738 shares of the company were exchanged, compared to its average volume of 3,214,083. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -8.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $41.47. The stock’s 50-day simple moving average is $31.30 and its 200 day simple moving average is $25.55.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same period last year, the firm posted ($1.50) EPS. The company’s revenue was down 8.7% 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 announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. PBF Energy’s payout ratio is -23.66%.

Analyst Ratings Changes

Several research firms have recently weighed in on PBF. Citigroup boosted their target price on PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Scotiabank boosted their price objective on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Tudor Pickering lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Piper Sandler upped their price target on shares of PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a research report on Thursday, September 11th. Finally, Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the stock an “underweight” rating in a research note on Friday, October 3rd. One investment 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, the stock currently has an average rating of “Strong Sell” and a consensus price target of $27.83.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of PBF. Bank of New York Mellon Corp increased its stake in shares of PBF Energy by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after acquiring an additional 260,464 shares during the period. M&T Bank Corp purchased a new stake in PBF Energy in the 1st quarter valued at approximately $300,000. Intech Investment Management LLC boosted its holdings in PBF Energy by 27.3% in the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock valued at $2,279,000 after purchasing an additional 25,616 shares in the last quarter. VR Advisory Services Ltd increased its position in PBF Energy by 241.9% during the 1st quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company’s stock worth $3,263,000 after purchasing an additional 120,945 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $448,000. Hedge funds and other 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.