Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Acquires 250,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital purchased 250,000 shares of PBF Energy stock in a transaction dated Friday, September 20th. The shares were purchased at an average price of $31.78 per share, with a total value of $7,945,000.00. Following the completion of the transaction, the insider now directly owns 22,952,398 shares in the company, valued at $729,427,208.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 23rd, Control Empresarial De Capital acquired 265,000 shares of PBF Energy stock. The shares were acquired at an average cost of $31.87 per share, with a total value of $8,445,550.00.
• On Wednesday, September 11th, Control Empresarial De Capital bought 670,000 shares of PBF Energy stock. The stock was acquired at an average price of $31.29 per share, for a total transaction of $20,964,300.00.
• On Thursday, September 5th, Control Empresarial De Capital bought 805,300 shares of PBF Energy stock. The stock was bought at an average cost of $32.62 per share, for a total transaction of $26,268,886.00.
• On Tuesday, September 3rd, Control Empresarial De Capital purchased 510,000 shares of PBF Energy stock. The stock was bought 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 purchased 50,000 shares of PBF Energy stock. The stock was bought at an average cost of $35.60 per share, for a total transaction 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, for a total transaction of $12,040,540.00.
• On Friday, June 28th, Control Empresarial De Capital purchased 140,000 shares of PBF Energy stock. The shares were purchased at an average cost of $45.73 per share, with a total value of $6,402,200.00.
• On Wednesday, June 26th, Control Empresarial De Capital acquired 102,000 shares of PBF Energy stock. The shares were purchased at an average cost of $44.91 per share, for a total transaction of $4,580,820.00.

PBF Energy Trading Down 1.4 %

NYSE PBF traded down $0.44 on Tuesday, hitting $31.19. The company’s stock had a trading volume of 1,959,422 shares, compared to its average volume of 2,138,869. The firm has a market cap of $3.70 billion, a P/E ratio of 2.16 and a beta of 1.56. PBF Energy Inc. has a 52-week low of $30.61 and a 52-week high of $62.88. The company’s 50-day simple moving average is $35.34 and its 200 day simple moving average is $45.29. 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 (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS. Research analysts predict that PBF Energy Inc. will post 1.25 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. lifted its position in PBF Energy by 18.4% during the first quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after buying an additional 89,900 shares during the period. Van ECK Associates Corp lifted its position in PBF Energy by 763.4% during the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after acquiring an additional 184,426 shares during the period. Norges Bank purchased a new position in PBF Energy during the 4th quarter valued at about $54,832,000. Acadian Asset Management LLC boosted its stake in PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock worth $60,689,000 after acquiring an additional 48,525 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in PBF Energy in the first quarter worth about $1,394,000. 96.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Mizuho reduced their price target on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank reduced their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley reduced their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $25.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.91.

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.