Insider Selling: PBF Energy (NYSE:PBF) SVP Sells 30,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) SVP Connor Thomas O sold 30,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the senior vice president owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. This trade represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $1.74 during trading on Monday, hitting $30.88. The stock had a trading volume of 4,724,281 shares, compared to its average volume of 3,284,074. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The firm has a market cap of $3.57 billion, a P/E ratio of -3.59 and a beta of 0.97. The business has a fifty day moving average of $26.18 and a two-hundred day moving average of $22.21. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $34.29.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the business posted ($0.54) earnings per share. PBF Energy’s revenue was down 14.4% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy’s dividend payout ratio is currently -12.81%.

Wall Street Analyst Weigh In

PBF has been the subject of several research analyst reports. Bank of America increased their price objective on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Tudor Pickering downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Scotiabank reissued a “sector perform” rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Piper Sandler increased their price objective on PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, September 11th. Finally, UBS Group increased their price objective on PBF Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $26.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in shares of PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,248 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of PBF Energy by 125.7% during the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 803 shares during the last quarter. Allworth Financial LP increased its holdings in shares of PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PBF Energy in the 1st quarter valued at approximately $35,000. Finally, Neo Ivy Capital Management acquired a new stake in PBF Energy in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.