PBF Energy Inc. (NYSE:PBF - Get Free Report) CEO Matthew Lucey sold 225,473 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company's stock, valued at approximately $35,655,850.32. The trade was a 31.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
PBF Energy Stock Performance
Shares of PBF opened at $65.81 on Wednesday. The business has a 50-day simple moving average of $50.30 and a two-hundred day simple moving average of $43.46. 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 stock has a market cap of $7.79 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 0.10 and a beta of 0.10.
PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts' consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analysts' expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business's quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.03) EPS. On average, analysts expect that PBF Energy Inc. will post 12.56 EPS for the current year.
PBF Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. PBF Energy's dividend payout ratio is presently 9.73%.
Key PBF Energy News
Here are the key news stories impacting PBF Energy this week:
- Positive Sentiment: PBF Energy’s recent quarterly results were significantly stronger than expected, with adjusted earnings of $6.22 per share versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year. The earnings beat has contributed to upward estimate revisions and bullish momentum. Why PBF Energy Might be Well Poised for a Surge
- Positive Sentiment: Zacks identified PBF as a stock with strong relative price strength, positive earnings revisions and solid fundamentals. Another report said growth investors should not overlook the refiner because of above-average financial growth. 5 Stocks With Relative Price Strength Investors Should Buy
- Positive Sentiment: An analyst price target was reportedly raised to $74, reinforcing the near-term bullish case. PBF also declared its regular $0.275-per-share quarterly dividend, equal to $1.10 annually. PBF Energy Price Target Raised to $74.00
- Neutral Sentiment: Despite the recent rally, analyst sentiment remains mixed: the consensus rating is “Hold,” with a consensus price target of $46.31, well below recent trading levels. Institutional investors still own approximately 96.3% of the shares.
- Negative Sentiment: Several insiders sold significant positions after the rally. CEO Matthew C. Lucey sold 225,473 shares for approximately $16.2 million, director Thomas J. Nimbley sold 468,139 shares for about $32.6 million, and Control Empresarial De Capital sold 490,000 shares worth roughly $34.9 million. Although the latter retained nearly 15 million shares, the cluster of sales may weigh on investor sentiment. PBF Energy Insider Selling
Analyst Upgrades and Downgrades
PBF has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Morgan Stanley upped their target price on shares of PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, June 12th. Wall Street Zen upgraded PBF Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday. UBS Group raised their price target on PBF Energy from $62.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Zacks Research upgraded PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of "Reduce" and a consensus target price of $50.15.
View Our Latest Stock Report on PBF Energy
Institutional Investors Weigh In On PBF Energy
Several institutional investors and hedge funds have recently modified their holdings of PBF. Royal Bank of Canada lifted its holdings in shares of PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock worth $590,000 after buying an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company's stock worth $1,140,000 after acquiring an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock valued at $4,996,000 after acquiring an additional 12,289 shares in the last quarter. Acadian Asset Management LLC grew its stake in PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock valued at $62,000 after acquiring an additional 2,354 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in PBF Energy in the 2nd quarter valued at $1,143,000. Institutional investors own 96.29% of the company's stock.
PBF Energy Company Profile
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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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