Key Points
- Control Empresarial De Capital sold 416,000 PBF shares across Jan. 9, 13 and 14 for about $13.8 million (including a 106,000-share sale on Jan. 13 for $3.575M) and still owns 30,667,498 shares valued at roughly $1.03 billion after the trades.
- PBF shares were down 3.7%, the company has a market cap of $3.62 billion and reported a quarterly loss (EPS -$0.52) despite beating estimates; Wall Street’s consensus rating is Reduce with a $30.14 target, and the stock yields about 3.5% annually.
PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 106,000 shares of the business's stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $33.73, for a total transaction of $3,575,380.00. Following the completion of the transaction, the insider directly owned 30,667,498 shares in the company, valued at $1,034,414,707.54. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Control Empresarial De Capital also recently made the following trade(s):
- On Wednesday, January 14th, Control Empresarial De Capital sold 260,000 shares of PBF Energy stock. The stock was sold at an average price of $33.17, for a total transaction of $8,624,200.00.
- On Friday, January 9th, Control Empresarial De Capital sold 50,000 shares of PBF Energy stock. The stock was sold at an average price of $32.31, for a total transaction of $1,615,500.00.
PBF Energy Stock Down 3.7%
PBF opened at $31.22 on Friday. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The company's 50-day moving average price is $31.92 and its two-hundred day moving average price is $29.11. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -6.71, a PEG ratio of 1.17 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.
PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.47 billion. During the same quarter in the previous year, the firm posted ($1.50) EPS. PBF Energy's revenue was down 8.7% on a year-over-year basis. As a group, equities analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current year.
PBF Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a $0.275 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.5%. PBF Energy's payout ratio is presently -23.66%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on PBF. Weiss Ratings reissued a "sell (d)" rating on shares of PBF Energy in a report on Monday, December 29th. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an "underweight" rating in a research report on Friday, October 3rd. BMO Capital Markets reiterated a "market perform" rating and issued a $34.00 target price on shares of PBF Energy in a research note on Monday, January 5th. Scotiabank upped their price target on shares of PBF Energy from $25.00 to $28.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Finally, Wolfe Research downgraded shares of PBF Energy from a "peer perform" rating to an "underperform" rating and set a $23.00 price objective for the company. in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $30.14.
View Our Latest Research Report on PBF
Institutional Investors Weigh In On PBF Energy
Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock valued at $83,639,000 after acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC increased its holdings in PBF Energy by 20.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company's stock worth $75,524,000 after acquiring an additional 418,223 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company's stock worth $36,577,000 after purchasing an additional 1,159,628 shares in the last quarter. Private Management Group Inc. boosted its holdings in PBF Energy by 6.9% in the 2nd quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company's stock valued at $25,445,000 after purchasing an additional 75,546 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of PBF Energy by 27.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,155,303 shares of the oil and gas company's stock valued at $34,855,000 after purchasing an additional 246,429 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.
About PBF Energy
(
Get Free Report)
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.
Further Reading
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