Key Points
- Control Empresarial De Capital sold 100,000 PBF Energy shares at an average price of $77.02, generating $7.7 million. The sale reduced its stake by 0.70%, though it still owned approximately 14.2 million shares afterward.
- PBF Energy reported strong quarterly results, with EPS of $6.22 versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year.
- The stock opened at $74.57, near its 52-week high of $77.94. Analysts’ consensus rating remains “Hold,” with an average price target of $53.42, while the company maintains a quarterly dividend of $0.275 per share.
PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $77.02, for a total value of $7,702,000.00. Following the completion of the transaction, the insider owned 14,185,397 shares in the company, valued at $1,092,559,276.94. The trade was a 0.70% 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, August 17th, Control Empresarial De Capital sold 120,000 shares of PBF Energy stock. The shares were sold at an average price of $74.79, for a total value of $8,974,800.00.
- On Friday, August 14th, Control Empresarial De Capital sold 6,356 shares of PBF Energy stock. The stock was sold at an average price of $74.28, for a total value of $472,123.68.
- On Thursday, August 13th, Control Empresarial De Capital sold 210,000 shares of PBF Energy stock. The stock was sold at an average price of $72.18, for a total value of $15,157,800.00.
- On Wednesday, August 12th, Control Empresarial De Capital sold 150,000 shares of PBF Energy stock. The shares were sold at an average price of $70.13, for a total value of $10,519,500.00.
- On Tuesday, August 11th, Control Empresarial De Capital sold 220,375 shares of PBF Energy stock. The shares were sold at an average price of $68.68, for a total value of $15,135,355.00.
- On Thursday, July 30th, Control Empresarial De Capital sold 490,000 shares of PBF Energy stock. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00.
- On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $63.96, for a total value of $14,071,200.00.
- On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $54.52, for a total value of $5,452,000.00.
- On Thursday, July 9th, Control Empresarial De Capital sold 270,000 shares of PBF Energy stock. The stock was sold at an average price of $53.18, for a total transaction of $14,358,600.00.
- On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The shares were sold at an average price of $52.29, for a total transaction of $19,870,200.00.
PBF Energy Stock Performance
NYSE PBF opened at $74.57 on Friday. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $77.94. The company has a 50-day simple moving average of $63.98 and a 200 day simple moving average of $49.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The company has a market capitalization of $8.84 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 0.09 and a beta of 0.09.
PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for 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 company's revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. On average, research analysts predict that PBF Energy Inc. will post 15.74 EPS for the current year.
PBF Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy's payout ratio is 9.73%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PBF. Morgan Stanley increased their price objective on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Friday, June 12th. Evercore began coverage on PBF Energy in a research note on Friday, July 17th. They issued an "in-line" rating and a $58.00 target price on the stock. Citigroup upped their price target on PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Freedom Capital downgraded PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Finally, Zacks Research raised PBF Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.42.
Get Our Latest Report on PBF Energy
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in PBF Energy during the 4th quarter valued at $31,000. Leonteq Securities AG bought a new position in shares of PBF Energy in the first quarter worth $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of PBF Energy by 65.3% in the fourth 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 period. Eurizon Capital SGR S.p.A. bought a new position in shares of PBF Energy in the fourth quarter worth $57,000. Finally, Global Retirement Partners LLC grew its position in shares of PBF Energy by 3,354.7% in the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock valued at $60,000 after purchasing an additional 2,147 shares in the last quarter. 96.29% of the stock is owned by 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.
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