Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Purchases 341,500 Shares of Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital purchased 341,500 shares of the stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the transaction, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. The trade was a 1.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, December 4th, Control Empresarial De Capital bought 300,000 shares of PBF Energy stock. The shares were purchased 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 purchased at an average price of $31.12 per share, with a total value of $6,068,400.00.
• On Wednesday, November 27th, Control Empresarial De Capital acquired 409,000 shares of PBF Energy stock. The stock was purchased 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 bought 57,000 shares of PBF Energy stock. The stock was purchased at an average cost of $31.70 per share, for a total transaction of $1,806,900.00.
• On Tuesday, November 19th, Control Empresarial De Capital purchased 100,000 shares of PBF Energy stock. The shares were acquired 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 acquired 85,000 shares of PBF Energy stock. The stock was acquired 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 acquired at an average cost of $28.66 per share, for a total transaction of $4,299,000.00.
• On Wednesday, October 30th, Control Empresarial De Capital purchased 300,000 shares of PBF Energy stock. The shares were acquired at an average cost 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 bought 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 bought at an average price of $31.91 per share, with a total value of $9,161,361.00.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $25.15 on Monday. PBF Energy Inc. has a 1 year low of $24.21 and a 1 year high of $62.88. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -9.71 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The company’s 50 day simple moving average is $30.63 and its 200 day simple moving average is $35.16.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) 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 business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business posted $6.61 EPS. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. As a group, research analysts predict that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced 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 represents a $1.10 dividend on an annualized basis and a dividend yield of 4.37%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -42.47%.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in PBF Energy during the 3rd quarter worth approximately $2,404,000. Dakota Wealth Management bought a new stake in shares of PBF Energy during the third quarter worth $694,000. Intech Investment Management LLC increased its holdings in shares of PBF Energy by 165.9% during 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 buying an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of PBF Energy by 44.1% in the 3rd 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 acquiring an additional 18,173 shares during the last quarter. Finally, Symmetry Investments LP bought a new position in shares of PBF Energy in the 2nd quarter valued at $2,464,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PBF has been the topic of several research analyst reports. Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Bank of America initiated coverage on PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Finally, TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and reduced their target price for the company from $27.00 to $20.00 in a research report on Friday. Seven analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.45.

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.