PBF Energy (NYSE:PBF) SVP Trecia Canty Sells 62,999 Shares

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 62,999 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $3,149,950.00. Following the completion of the sale, the senior vice president directly owned 191,779 shares of the company’s stock, valued at $9,588,950. The trade was a 24.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PBF Energy Trading Up 1.6%

Shares of PBF opened at $51.19 on Friday. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $51.80. The company has a market capitalization of $5.99 billion, a PE ratio of -34.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The stock has a fifty day moving average of $38.27 and a two-hundred day moving average of $33.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21.

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

PBF Energy Announces Dividend

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

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares during the period. Torren Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter worth about $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter worth about $31,000. Deseret Mutual Benefit Administrators increased its position in PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PBF. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Wolfe Research cut shares of 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. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Citigroup upped their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group increased their price target on shares of PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $31.69.

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.