Key Points
- Insider sale: Control Empresarial De Capital sold 100,000 PBF Energy shares at an average price of $82, generating $8.2 million. The insider retained 13.6 million shares worth approximately $1.12 billion.
- Strong operating results: PBF reported quarterly EPS of $6.22, surpassing the $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion.
- Shares near a 12-month high: PBF opened at $84.13, up 4.1%, close to its $85.08 yearly high. Analysts’ average rating remains “Hold,” with an average price target of $60.91.
PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 100,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $82.00, for a total value of $8,200,000.00. Following the completion of the sale, the insider owned 13,616,127 shares of the company's stock, valued at approximately $1,116,522,414. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Control Empresarial De Capital also recently made the following trade(s):
- On Friday, September 11th, Control Empresarial De Capital sold 150,000 shares of PBF Energy stock. The stock was sold at an average price of $80.60, for a total value of $12,090,000.00.
- On Thursday, September 10th, Control Empresarial De Capital sold 315,776 shares of PBF Energy stock. The shares were sold at an average price of $77.78, for a total value of $24,561,057.28.
- On Wednesday, September 9th, Control Empresarial De Capital sold 3,494 shares of PBF Energy stock. The shares were sold at an average price of $77.23, for a total value of $269,841.62.
- On Wednesday, September 2nd, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $77.02, for a total transaction of $7,702,000.00.
- On Monday, August 17th, Control Empresarial De Capital sold 120,000 shares of PBF Energy stock. The stock was sold at an average price of $74.79, for a total transaction 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 transaction of $472,123.68.
- On Thursday, August 13th, Control Empresarial De Capital sold 210,000 shares of PBF Energy stock. The shares were sold at an average price of $72.18, for a total transaction 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 stock was 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 stock was sold at an average price of $71.26, for a total value of $34,917,400.00.
PBF Energy Stock Up 4.1%
PBF stock opened at $84.13 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. The firm has a market capitalization of $9.97 billion, a PE ratio of 7.45, a P/E/G ratio of 0.06 and a beta of 0.18. The stock's 50 day moving average is $72.34 and its 200-day moving average is $54.94. PBF Energy Inc. has a twelve month low of $25.62 and a twelve month high of $85.08.
PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the prior year, the business posted ($1.03) EPS. The business's revenue was up 56.2% compared to the same quarter last year. Sell-side analysts expect that PBF Energy Inc. will post 22.66 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.2750 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 14th. PBF Energy's dividend payout ratio (DPR) is 9.73%.
Institutional Investors Weigh In On PBF Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its position in shares of PBF Energy by 128.0% during the second quarter. Sequoia Financial Advisors LLC now owns 10,631 shares of the oil and gas company's stock worth $484,000 after acquiring an additional 5,969 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of PBF Energy by 90.4% in the second quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company's stock valued at $2,887,000 after purchasing an additional 30,117 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of PBF Energy by 76.0% in the second quarter. Integrated Wealth Concepts LLC now owns 8,632 shares of the oil and gas company's stock valued at $393,000 after purchasing an additional 3,728 shares in the last quarter. IFP Advisors Inc raised its stake in shares of PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 591 shares during the period. Finally, Allworth Financial LP raised its stake in shares of PBF Energy by 166.2% during the 2nd quarter. Allworth Financial LP now owns 6,888 shares of the oil and gas company's stock valued at $314,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 96.29% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of PBF Energy from $71.00 to $81.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded PBF Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Weiss Ratings raised PBF Energy from a "sell (d-)" rating to a "buy (b-)" rating in a report on Tuesday, September 22nd. Freedom Capital lowered PBF Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Citigroup raised their target price on PBF Energy from $65.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $60.91.
View Our Latest Research Report on PBF Energy
About PBF Energy
(
Get Free Report)
PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.
PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.
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