James Fedena Sells 24,756 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP James Fedena sold 24,756 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $71.83, for a total transaction of $1,778,223.48. Following the completion of the transaction, the senior vice president owned 114,260 shares of the company’s stock, valued at approximately $8,207,295.80. This trade represents a 17.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $61.23 on Friday. The firm’s 50 day moving average is $51.18 and its two-hundred day moving average is $43.90. PBF Energy Inc. has a 52 week low of $21.46 and a 52 week high of $74.74. The firm has a market capitalization of $7.24 billion, a P/E ratio of 5.42, a PEG ratio of 0.07 and a beta of 0.10. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.03) earnings per share. Analysts anticipate that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.8%. PBF Energy’s payout ratio is presently 9.73%.

Wall Street Analyst Weigh In

PBF has been the subject of several recent analyst reports. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Mizuho lifted their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. TD Cowen upped their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $50.15.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in PBF Energy by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares during the last quarter. Merit Financial Group LLC boosted its holdings in PBF Energy by 3.4% during the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock worth $268,000 after buying an additional 325 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after buying an additional 383 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in PBF Energy by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after buying an additional 432 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

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.