PBF Energy major shareholder Holdings L.P. Blackstone II Sells 15,191,339 Shares (PBF)
PBF Energy (NYSE:PBF) major shareholder Holdings L.P. Blackstone II unloaded 15,191,339 shares of the stock on the open market in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $29.75, for a total transaction of $451,942,335.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on PBF. Analysts at Bank of America reiterated a “buy” rating on shares of PBF Energy in a research note on Saturday, May 17th. They now have a $35.00 price target on the stock. Finally, analysts at Howard Weil raised their price target on shares of PBF Energy from $36.00 to $39.00 in a research note on Thursday, May 1st. They now have a “sector outperform” rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PBF Energy presently has an average rating of “Hold” and an average price target of $29.18.
PBF Energy (NYSE:PBF) traded up 3.48% on Wednesday, hitting $31.20. 5,777,420 shares of the company’s stock traded hands. PBF Energy has a one year low of $20.15 and a one year high of $32.41. The stock has a 50-day moving average of $30.73 and a 200-day moving average of $28.28. The company has a market cap of $2.174 billion and a price-to-earnings ratio of 17.13.
PBF Energy (NYSE:PBF) last announced its earnings results on Wednesday, April 30th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.79 by $0.65. The company had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict that PBF Energy will post $3.72 earnings per share for the current fiscal year.
PBF Energy Inc (NYSE:PBF) is an independent petroleum refiners and suppliers of unbranded transportation fuels, heating oils, petrochemical feedstocks, lubricants and other petroleum products in the United States.
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