Paul T. Davis Sells 100,000 Shares of PBF Energy Inc. (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PBF Energy Price Performance

Shares of NYSE PBF traded up $0.28 during trading on Wednesday, reaching $55.62. The company had a trading volume of 245,963 shares, compared to its average volume of 2,375,813. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. The stock has a market cap of $6.65 billion, a PE ratio of 3.36 and a beta of 1.71. The business’s 50 day moving average price is $49.70 and its 200-day moving average price is $47.66. PBF Energy Inc. has a 52 week low of $31.25 and a 52 week high of $58.65.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm earned $4.41 earnings per share. Analysts expect that PBF Energy Inc. will post 6.01 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s payout ratio is presently 6.08%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $50.00 price target (down from $65.00) on shares of PBF Energy in a research report on Monday, January 8th. Wells Fargo & Company boosted their price target on shares of PBF Energy from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. StockNews.com lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Finally, Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.50.

Institutional Investors Weigh In On PBF Energy

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in PBF Energy by 527.4% in the third quarter. Victory Capital Management Inc. now owns 526,671 shares of the oil and gas company’s stock valued at $28,193,000 after purchasing an additional 442,730 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of PBF Energy in the fourth quarter valued at approximately $3,936,000. Jump Financial LLC boosted its holdings in shares of PBF Energy by 199.3% in the third quarter. Jump Financial LLC now owns 16,281 shares of the oil and gas company’s stock valued at $872,000 after buying an additional 10,842 shares during the period. FMR LLC boosted its holdings in shares of PBF Energy by 91.3% in the third quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock valued at $48,420,000 after buying an additional 431,801 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of PBF Energy in the third quarter valued at approximately $277,000. Institutional investors own 96.29% of the company’s stock.

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.