Key Points
- Insider selling: Control Empresarial De Capital sold 220,000 shares of PBF Energy for about $9.59 million at an average price of $43.58. The sale reduced its stake by 1.19%, and it follows a series of recent share sales by the same insider.
- Mixed operating results: PBF Energy reported a quarterly loss of $0.88 per share, missing analyst expectations, though revenue came in above estimates at $7.90 billion and rose 11.9% year over year.
- Wall Street remains cautious: Analysts currently have a consensus rating of “Reduce” on PBF Energy, with a consensus price target of $36.15, even as the stock traded above that level around $42.79.
PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 31,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $43.56, for a total value of $1,350,360.00. Following the transaction, the insider directly owned 18,437,698 shares in the company, valued at $803,146,124.88. This represents a 0.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Control Empresarial De Capital also recently made the following trade(s):
- On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $43.58, for a total value of $9,587,600.00.
- On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $44.87, for a total value of $8,974,000.00.
- On Tuesday, May 5th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $45.91, for a total value of $10,100,200.00.
- On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The shares were sold at an average price of $44.41, for a total value of $133,230.00.
- On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00.
- On Tuesday, April 7th, Control Empresarial De Capital sold 70,000 shares of PBF Energy stock. The shares were sold at an average price of $47.10, for a total value of $3,297,000.00.
- On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The shares were sold at an average price of $46.18, for a total value of $6,003,400.00.
- On Friday, March 27th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $50.52, for a total value of $30,312,000.00.
- On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The shares were sold at an average price of $49.96, for a total value of $31,824,520.00.
- On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $50.74, for a total value of $10,148,000.00.
PBF Energy Stock Performance
NYSE:PBF opened at $42.79 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy Inc. has a 52-week low of $17.53 and a 52-week high of $52.18. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.16 and a beta of 0.12. The business's fifty day moving average is $42.47 and its 200 day moving average is $37.18.
PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the previous year, the firm posted ($3.53) earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts predict that PBF Energy Inc. will post 6.7 EPS for the current year.
PBF Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. PBF Energy's payout ratio is presently 29.65%.
Hedge Funds Weigh In On PBF Energy
Institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG bought a new position in PBF Energy in the 1st quarter worth about $33,000. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 589 shares during the last quarter. Torren Management LLC bought a new position in PBF Energy in the 4th quarter worth about $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy in the 4th quarter worth about $31,000. Finally, Hantz Financial Services Inc. increased its stake in PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 912 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently issued reports on PBF shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, April 2nd. Mizuho upped their target price on PBF Energy from $43.00 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on PBF Energy in a research note on Friday, April 10th. They issued a "neutral" rating and a $49.00 target price on the stock. Finally, Zacks Research upgraded PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, PBF Energy has a consensus rating of "Reduce" and an average price target of $36.15.
Check Out Our Latest Stock Report on PBF Energy
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.
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