Key Points
- PBF Energy SVP Paul Davis sold 63,295 shares for approximately $4.46 million, reducing his holdings by 25.7% to 183,426 shares. Other executives and a major shareholder also reported recent stock sales.
- PBF reported strong quarterly results, with EPS of $6.22 beating estimates of $4.15 and revenue rising 56.2% year over year to $11.68 billion. The stock opened at $74.42, near its 52-week high of $74.74.
- The company declared a quarterly dividend of $0.275 per share, equivalent to $1.10 annually and a 1.5% yield. Analyst views remain mixed, with a consensus rating of “Reduce” and a $50.15 target price.
PBF Energy Inc. (NYSE:PBF - Get Free Report) CFO Joseph Daniel Marino sold 4,033 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $69.15, for a total transaction of $278,881.95. Following the completion of the sale, the chief financial officer owned 48,851 shares of the company's stock, valued at $3,378,046.65. The trade was a 7.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
PBF Energy Trading Up 5.8%
Shares of NYSE PBF opened at $74.42 on Friday. PBF Energy Inc. has a 1-year low of $22.08 and a 1-year high of $74.74. The company has a 50-day moving average of $53.79 and a two-hundred day moving average of $45.18. The company has a market cap of $8.82 billion, a PE ratio of 6.59, a P/E/G ratio of 0.08 and a beta of 0.10. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.
PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analysts' expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. PBF Energy's revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.03) earnings per share. As a group, equities analysts expect that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.
PBF Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.5%. PBF Energy's dividend payout ratio is currently 9.73%.
Trending Headlines about PBF Energy
Here are the key news stories impacting PBF Energy this week:
- Positive Sentiment: PBF Energy’s latest quarterly results were significantly better than expected: earnings were $6.22 per share versus the $4.15 consensus estimate, while revenue increased 56.2% year over year to $11.68 billion. Analysts project full-year earnings of approximately $15.74 per share. Refining industry article
- Positive Sentiment: The company declared a quarterly dividend of $0.275 per share, equivalent to $1.10 annually and a yield of roughly 1.5%. PBF’s low payout ratio provides additional dividend coverage. Energy stocks article
- Neutral Sentiment: Analyst opinion remains mixed. UBS raised its price target to $84 and maintained a buy rating, while several other firms retained neutral or sell ratings. The consensus target of $50.15 is well below recent trading levels, suggesting valuation and refining-cycle concerns remain. Oil refiners analyst coverage
- Negative Sentiment: Several insiders sold substantial positions: Control Empresarial De Capital sold 370,375 shares for about $25.7 million, Director Thomas J. Nimbley sold roughly $17.6 million, and SVP Paul Davis sold about $4.5 million. CFO Joseph Marino also sold approximately $279,000. Although the insiders retain significant holdings, the scale of the sales may raise concerns about profit-taking near elevated price levels. PBF insider SEC filings
Institutional Trading of PBF Energy
Several institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the last quarter. State Street Corp boosted its holdings in shares of PBF Energy by 1.3% during the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company's stock worth $131,661,000 after acquiring an additional 60,294 shares during the period. Dimensional Fund Advisors LP grew its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company's stock worth $207,953,000 after buying an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the period. Finally, Invesco Ltd. grew its stake in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock worth $83,639,000 after buying an additional 1,651,516 shares in the last quarter. Institutional investors own 96.29% of the company's stock.
Wall Street Analysts Forecast Growth
PBF has been the subject of several research reports. Morgan Stanley lifted their target price on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Friday, June 12th. Freedom Capital cut PBF Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Zacks Research upgraded PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group boosted their price objective on PBF Energy from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, TD Cowen upped their target price 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, PBF Energy presently has an average rating of "Reduce" and an average price target of $50.15.
Read Our Latest Stock Report 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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