Control Empresarial De Capital Sells 687,500 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 687,500 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $49.49, for a total transaction of $34,024,375.00. Following the completion of the transaction, the insider owned 21,445,398 shares in the company, valued at approximately $1,061,332,747.02. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Control Empresarial De Capital also recently made the following trade(s):

• On Wednesday, March 25th, Control Empresarial De Capital sold 469,700 shares of PBF Energy stock. The shares were sold at an average price of $49.44, for a total transaction of $23,221,968.00.
• On Monday, March 23rd, Control Empresarial De Capital sold 472,000 shares of PBF Energy stock. The shares were sold at an average price of $47.02, for a total transaction of $22,193,440.00.
• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The stock was sold at an average price of $48.84, for a total transaction of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The stock was sold at an average price of $50.18, for a total transaction of $2,609,360.00.
• On Wednesday, March 18th, Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock. The shares were sold at an average price of $46.21, for a total value of $50,831,000.00.
• On Tuesday, March 17th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $44.43, for a total value of $26,658,000.00.
• On Monday, March 16th, Control Empresarial De Capital sold 49,200 shares of PBF Energy stock. The shares were sold at an average price of $44.29, for a total value of $2,179,068.00.
• On Friday, March 13th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The stock was sold at an average price of $43.30, for a total value of $16,454,000.00.
• On Thursday, March 12th, Control Empresarial De Capital sold 265,000 shares of PBF Energy stock. The stock was sold at an average price of $43.55, for a total value of $11,540,750.00.
• On Wednesday, March 11th, Control Empresarial De Capital sold 838,000 shares of PBF Energy stock. The shares were sold at an average price of $41.91, for a total value of $35,120,580.00.

PBF Energy Trading Up 1.6%

NYSE:PBF opened at $51.19 on Friday. The firm has a market capitalization of $5.99 billion, a P/E ratio of -34.82, a P/E/G ratio of 0.63 and a beta of 0.41. The business has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $33.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $51.80.

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

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PBF. Piper Sandler boosted their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a report on Monday, January 5th. The Goldman Sachs Group boosted their price objective on PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PBF Energy has a consensus rating of “Reduce” and an average target price of $31.69.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of PBF Energy in the third quarter valued at approximately $10,207,000. First Eagle Investment Management LLC raised its holdings in PBF Energy by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after purchasing an additional 40,129 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in PBF Energy in the second quarter worth approximately $5,843,000. Allianz Asset Management GmbH lifted its position in PBF Energy by 1,232.0% in 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 purchasing an additional 247,039 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in PBF Energy by 264.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after purchasing an additional 70,312 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.