Paul T. Davis Sells 100,000 Shares of PBF Energy Inc. (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

PBF Energy Stock Performance

PBF stock opened at $57.57 on Friday. The business has a 50 day moving average of $50.26 and a 200-day moving average of $47.73. PBF Energy Inc. has a 12-month low of $31.25 and a 12-month high of $58.65. The firm has a market cap of $6.88 billion, a PE ratio of 3.50 and a beta of 1.71. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same period last year, the company posted $4.41 earnings per share. PBF Energy’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts expect that PBF Energy Inc. will post 6.01 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is 6.08%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PBF shares. Mizuho lowered PBF Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Piper Sandler reissued a “neutral” rating and set a $50.00 price objective (down from $65.00) on shares of PBF Energy in a report on Monday, January 8th. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. TD Cowen boosted their price objective on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Finally, Wells Fargo & Company boosted their price objective on PBF Energy from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.50.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of PBF. Creekmur Asset Management LLC bought a new position in PBF Energy during the fourth quarter valued at $29,000. Fifth Third Bancorp lifted its position in shares of PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 230 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of PBF Energy during the fourth quarter worth $44,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of PBF Energy during the first quarter worth $48,000. Finally, Farther Finance Advisors LLC lifted its position in shares of PBF Energy by 473.5% during the second quarter. Farther Finance Advisors LLC now owns 1,210 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 999 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

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.