PBF Energy Inc. (NYSE:PBF) Insider Acquires $9,172,690.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital bought 341,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the acquisition, the insider now owns 28,814,998 shares of the company’s stock, valued at approximately $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, December 4th, Control Empresarial De Capital acquired 300,000 shares of PBF Energy stock. The shares were bought at an average cost of $30.82 per share, for a total transaction of $9,246,000.00.
• On Friday, November 29th, Control Empresarial De Capital acquired 195,000 shares of PBF Energy stock. The stock was bought at an average cost of $31.12 per share, for a total transaction of $6,068,400.00.
• On Wednesday, November 27th, Control Empresarial De Capital bought 409,000 shares of PBF Energy stock. The shares were 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 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 stock was purchased at an average price 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 stock was purchased at an average price of $28.37 per share, for a total transaction of $2,411,450.00.
• On Friday, November 1st, Control Empresarial De Capital bought 150,000 shares of PBF Energy stock. The shares were purchased 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 purchased 300,000 shares of PBF Energy stock. The shares were purchased 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 acquired 75,000 shares of PBF Energy stock. The stock was acquired at an average price of $31.58 per share, for a total transaction of $2,368,500.00.
• On Wednesday, October 23rd, Control Empresarial De Capital bought 287,100 shares of PBF Energy stock. The shares were acquired at an average price of $31.91 per share, with a total value of $9,161,361.00.

PBF Energy Price Performance

NYSE PBF traded down $0.31 on Friday, reaching $25.15. The company’s stock had a trading volume of 6,485,914 shares, compared to its average volume of 2,175,057. The firm has a market cap of $2.90 billion, a PE ratio of -9.71 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 52 week low of $24.21 and a 52 week high of $62.88. The business has a 50-day moving average price of $30.79 and a 200 day moving average price of $35.44.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company posted $6.61 earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. Sell-side analysts expect that PBF Energy Inc. will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.37%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PBF shares. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Bank of America began coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.45.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PBF. National Bank of Canada FI acquired a new stake in shares of PBF Energy during the second quarter worth approximately $26,000. Quarry LP bought a new stake in PBF Energy during the 3rd quarter worth approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in PBF Energy during the 3rd quarter valued at $59,000. Blue Trust Inc. raised its position in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 573 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

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.