PBF Energy Inc. (NYSE:PBF) Insider Purchases $2,960,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the completion of the purchase, the insider now owns 29,084,998 shares in the company, valued at $860,915,940.80. This trade represents a 0.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, January 14th, Control Empresarial De Capital bought 100,000 shares of PBF Energy stock. The shares were acquired at an average price of $28.62 per share, with a total value of $2,862,000.00.
• On Thursday, December 26th, Control Empresarial De Capital purchased 70,000 shares of PBF Energy stock. The stock was acquired at an average price of $25.56 per share, for a total transaction of $1,789,200.00.
• On Wednesday, December 18th, Control Empresarial De Capital acquired 341,500 shares of PBF Energy stock. The shares were acquired at an average price of $26.86 per share, with a total value of $9,172,690.00.
• On Wednesday, December 4th, Control Empresarial De Capital bought 300,000 shares of PBF Energy stock. The stock was acquired at an average price of $30.82 per share, for a total transaction of $9,246,000.00.
• On Friday, November 29th, Control Empresarial De Capital purchased 195,000 shares of PBF Energy stock. The stock was bought at an average price of $31.12 per share, for a total transaction of $6,068,400.00.
• On Wednesday, November 27th, Control Empresarial De Capital acquired 409,000 shares of PBF Energy stock. The stock was bought at an average cost of $31.58 per share, with a total value of $12,916,220.00.
• On Monday, November 25th, Control Empresarial De Capital purchased 57,000 shares of PBF Energy stock. The shares were bought at an average cost of $31.70 per share, with a total value of $1,806,900.00.
• On Tuesday, November 19th, Control Empresarial De Capital acquired 100,000 shares of PBF Energy stock. The stock was purchased at an average cost of $31.28 per share, for a total transaction of $3,128,000.00.
• On Tuesday, November 5th, Control Empresarial De Capital bought 85,000 shares of PBF Energy stock. The stock was purchased at an average price of $28.37 per share, with a total value of $2,411,450.00.
• On Friday, November 1st, Control Empresarial De Capital purchased 150,000 shares of PBF Energy stock. The shares were purchased at an average price of $28.66 per share, for a total transaction of $4,299,000.00.

PBF Energy Stock Performance

Shares of PBF Energy stock traded down $0.55 during midday trading on Friday, hitting $29.90. The company had a trading volume of 1,273,149 shares, compared to its average volume of 2,150,883. The company has a fifty day simple moving average of $29.15 and a 200 day simple moving average of $32.44. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -11.55 and a beta of 1.61. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 12-month low of $24.21 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business posted $6.61 EPS. The company’s quarterly revenue was down 21.9% on a year-over-year basis. As a group, analysts predict that PBF Energy Inc. will post -3.5 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.68%. PBF Energy’s dividend payout ratio is currently -42.47%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America started coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price on the stock. Scotiabank cut their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and lowered their target price for the stock from $27.00 to $20.00 in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $39.00 to $34.00 in a research report on Monday, December 9th. Seven analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PBF. Neo Ivy Capital Management acquired a new position in PBF Energy in the 3rd quarter worth approximately $2,404,000. Dakota Wealth Management acquired a new stake in shares of PBF Energy in the third quarter worth $694,000. Intech Investment Management LLC increased its stake in shares of PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after acquiring an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D lifted its position in PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in PBF Energy by 40.5% in the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after purchasing an additional 26,952 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

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.