Insider Selling: PBF Energy (NYSE:PBF) CEO Sells 142,364 Shares

PBF Energy Inc. (NYSE:PBF) CEO Matthew Lucey sold 142,364 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $73.50, for a total value of $10,463,754.00. Following the transaction, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at $36,439,168.50. This trade represents a 22.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

PBF Energy Stock Performance

Shares of PBF Energy stock traded up $3.19 on Monday, reaching $75.04. 2,944,438 shares of the company were exchanged, compared to its average volume of 3,371,942. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 6.64, a P/E/G ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a 1-year low of $22.13 and a 1-year high of $75.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The company’s 50-day moving average is $54.37 and its two-hundred day moving average is $45.46.

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

PBF Energy Dividend Announcement

The company 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. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s payout ratio is presently 9.73%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Cowen raised their price target on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. UBS Group increased their price objective on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Scotiabank raised their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group raised their target price on PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $50.15.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after buying an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after acquiring an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock valued at $4,996,000 after acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC raised its holdings in PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in PBF Energy during the second quarter worth approximately $1,143,000. 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.