Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Purchases 40,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital bought 40,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the acquisition, the insider now owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, September 23rd, Control Empresarial De Capital purchased 265,000 shares of PBF Energy stock. The stock was purchased at an average cost of $31.87 per share, for a total transaction of $8,445,550.00.
• On Friday, September 20th, Control Empresarial De Capital purchased 250,000 shares of PBF Energy stock. The stock was purchased at an average cost of $31.78 per share, for a total transaction of $7,945,000.00.
• On Wednesday, September 11th, Control Empresarial De Capital bought 670,000 shares of PBF Energy stock. The shares were bought at an average cost of $31.29 per share, for a total transaction of $20,964,300.00.
• On Thursday, September 5th, Control Empresarial De Capital purchased 805,300 shares of PBF Energy stock. The shares were acquired at an average cost of $32.62 per share, with a total value of $26,268,886.00.
• On Tuesday, September 3rd, Control Empresarial De Capital bought 510,000 shares of PBF Energy stock. The stock was purchased at an average cost of $33.18 per share, with a total value of $16,921,800.00.
• On Monday, August 5th, Control Empresarial De Capital bought 50,000 shares of PBF Energy stock. The stock was purchased at an average cost of $35.60 per share, with a total value of $1,780,000.00.
• On Thursday, August 1st, Control Empresarial De Capital bought 307,000 shares of PBF Energy stock. The stock was purchased at an average cost of $39.22 per share, with a total value of $12,040,540.00.
• On Friday, June 28th, Control Empresarial De Capital bought 140,000 shares of PBF Energy stock. The stock was purchased at an average cost of $45.73 per share, with a total value of $6,402,200.00.

PBF Energy Price Performance

PBF Energy stock opened at $31.37 on Friday. The firm has a 50-day moving average price of $34.86 and a 200-day moving average price of $44.96. The firm has a market capitalization of $3.67 billion, a PE ratio of 2.17 and a beta of 1.56. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 12-month low of $30.58 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. PBF Energy’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post 0.6 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in PBF Energy by 94.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 313,091 shares of the oil and gas company’s stock valued at $14,408,000 after buying an additional 152,091 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in PBF Energy during the 2nd quarter valued at about $275,000. Sanctuary Advisors LLC bought a new stake in PBF Energy during the 2nd quarter valued at about $1,176,000. Invst LLC lifted its holdings in PBF Energy by 6.2% during the 2nd quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock valued at $770,000 after buying an additional 965 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in PBF Energy by 11.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock valued at $623,000 after buying an additional 1,436 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Scotiabank decreased their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research began coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $25.00 in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.91.

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.