PBF Energy (NYSE:PBF) SVP Paul Davis Sells 50,000 Shares

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $51.48, for a total transaction of $2,574,000.00. Following the completion of the transaction, the senior vice president directly owned 183,426 shares of the company’s stock, valued at approximately $9,442,770.48. The trade was a 21.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PBF Energy Stock Up 0.5%

Shares of NYSE PBF traded up $0.24 during midday trading on Thursday, reaching $46.33. 537,319 shares of the company’s stock were exchanged, compared to its average volume of 3,816,074. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $52.18. The stock has a market capitalization of $5.42 billion, a PE ratio of -31.65, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The business’s fifty day moving average price is $39.28 and its two-hundred day moving average price is $34.29.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the business posted ($2.82) earnings per share. PBF Energy’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Institutional Trading of PBF Energy

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of PBF Energy in the 3rd quarter worth about $10,207,000. First Eagle Investment Management LLC grew its position in shares of PBF Energy by 7.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after buying an additional 40,129 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of PBF Energy during the 2nd quarter valued at about $5,843,000. Allianz Asset Management GmbH raised its stake in PBF Energy by 1,232.0% during the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock worth $8,058,000 after acquiring an additional 247,039 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in PBF Energy by 264.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock worth $2,922,000 after acquiring an additional 70,312 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PBF. Citigroup lifted their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. BMO Capital Markets restated a “market perform” rating and issued a $34.00 target price on shares of PBF Energy in a research note on Monday, January 5th. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research report on Monday, December 8th. Finally, Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $31.69.

PBF Energy Company Profile

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.