Key Points
- Insider selling: Control Empresarial De Capital sold 490,000 PBF Energy shares for approximately $34.9 million, reducing its position by 3.16% to 14.99 million shares. The insider has made several additional sales in recent weeks.
- Strong quarterly results: PBF Energy reported quarterly earnings of $6.22 per share, beating estimates of $4.15, while revenue rose 56.2% year over year to $11.68 billion.
- Stock and outlook: Shares opened at $67.74, near their 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $46.31. The company also announced a quarterly dividend of $0.275 per share.
PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 490,000 shares of PBF Energy stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $71.26, for a total value of $34,917,400.00. Following the sale, the insider directly owned 14,992,128 shares of the company's stock, valued at approximately $1,068,339,041.28. This trade represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Control Empresarial De Capital also recently made the following trade(s):
- On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $63.96, for a total transaction of $14,071,200.00.
- On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00.
- On Thursday, July 9th, Control Empresarial De Capital sold 270,000 shares of PBF Energy stock. The shares were sold at an average price of $53.18, for a total value of $14,358,600.00.
- On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The stock was sold at an average price of $52.29, for a total value of $19,870,200.00.
- On Monday, July 6th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $49.14, for a total value of $9,828,000.00.
- On Wednesday, July 1st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $46.94, for a total value of $9,388,000.00.
- On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The stock was sold at an average price of $46.65, for a total value of $13,062,000.00.
- On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00.
- On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $42.79, for a total value of $8,558,000.00.
- On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total transaction of $8,635,995.70.
PBF Energy Stock Down 6.3%
Shares of NYSE PBF opened at $67.74 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. PBF Energy Inc. has a 52 week low of $21.46 and a 52 week high of $74.74. The firm's fifty day moving average is $49.75 and its 200 day moving average is $43.23. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 5.99, a PEG ratio of 0.12 and a beta of 0.10.
PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts' consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm's revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.03) EPS. On average, equities research analysts expect that PBF Energy Inc. will post 10.94 earnings per share for the current year.
PBF Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. PBF Energy's dividend payout ratio is currently 9.73%.
Institutional Trading of PBF Energy
Several institutional investors have recently bought and sold shares of PBF. Torren Management LLC bought a new stake in PBF Energy during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $31,000. Leonteq Securities AG bought a new stake in shares of PBF Energy during the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its holdings in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in PBF Energy in the 4th quarter valued at approximately $57,000. 96.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PBF has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, June 12th. Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a report on Monday, May 11th. Mizuho raised their price target on PBF Energy from $48.00 to $57.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Evercore initiated coverage on shares of PBF Energy in a report on Friday, July 17th. They issued an "in-line" rating and a $58.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $46.31.
Check Out Our Latest Stock Analysis on PBF Energy
PBF Energy Company Profile
(
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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