Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Buys $12,916,220.00 in Stock

Posted by Clark Linder on Dec 4th, 2024

PBF Energy Inc. (NYSE:PBF – Get Free Report) insider Control Empresarial De Capital acquired 409,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the completion of the transaction, the insider now owns 27,368,498 shares in the company, valued at approximately $864,297,166.84. The trade was a 1.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Control Empresarial De Capital also recently made the following trade(s):

On Friday, November 29th, Control Empresarial De Capital bought 195,000 shares of PBF Energy stock. The shares were purchased at an average price of $31.12 per share, with a total value of $6,068,400.00.
On Monday, November 25th, Control Empresarial De Capital purchased 57,000 shares of PBF Energy stock. The stock was acquired at an average price of $31.70 per share, for a total transaction of $1,806,900.00.
On Tuesday, November 19th, Control Empresarial De Capital acquired 100,000 shares of PBF Energy stock. The shares were acquired at an average cost of $31.28 per share, with a total value of $3,128,000.00.
On Tuesday, November 5th, Control Empresarial De Capital bought 85,000 shares of PBF Energy stock. The shares were acquired at an average cost of $28.37 per share, for a total transaction of $2,411,450.00.
On Friday, November 1st, Control Empresarial De Capital purchased 150,000 shares of PBF Energy stock. The stock was acquired at an average cost of $28.66 per share, with a total value of $4,299,000.00.
On Wednesday, October 30th, Control Empresarial De Capital acquired 300,000 shares of PBF Energy stock. The shares were bought at an average price of $29.01 per share, with a total value of $8,703,000.00.
On Monday, October 28th, Control Empresarial De Capital bought 75,000 shares of PBF Energy stock. The stock was bought at an average cost of $31.58 per share, for a total transaction of $2,368,500.00.
On Wednesday, October 23rd, Control Empresarial De Capital purchased 287,100 shares of PBF Energy stock. The stock was bought at an average cost of $31.91 per share, with a total value of $9,161,361.00.
On Tuesday, October 15th, Control Empresarial De Capital acquired 1,000,000 shares of PBF Energy stock. The shares were purchased at an average cost of $31.75 per share, for a total transaction of $31,750,000.00.
On Monday, September 30th, Control Empresarial De Capital bought 55,000 shares of PBF Energy stock. The stock was purchased at an average cost of $30.85 per share, with a total value of $1,696,750.00.

PBF Energy Stock Performance

Shares of PBF opened at $31.88 on Wednesday. PBF Energy Inc. has a 1 year low of $27.94 and a 1 year high of $62.88. The company’s 50 day simple moving average is $31.46 and its 200 day simple moving average is $36.87. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -12.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.61 EPS. On average, sell-side analysts predict that PBF Energy Inc. will post -2.86 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.275 dividend. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 annualized dividend and a yield of 3.45%. PBF Energy’s payout ratio is -42.47%.

Analysts Set New Price Targets

PBF has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Morgan Stanley reduced their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and a consensus target price of $34.18.

Check Out Our Latest Report on PBF

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PBF. Healthcare of Ontario Pension Plan Trust Fund increased its position in PBF Energy by 391.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after purchasing an additional 1,226,909 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock worth $26,717,000 after buying an additional 492,053 shares during the last quarter. Recurrent Investment Advisors LLC purchased a new position in shares of PBF Energy in the 3rd quarter worth $11,516,000. Hsbc Holdings PLC boosted its holdings in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after acquiring an additional 355,329 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after acquiring an additional 347,268 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

(Get Free Report)

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.