PBF Energy (NYSE:PBF) Shares Gap Up Following Insider Buying Activity

PBF Energy Inc. (NYSE:PBFGet Free Report)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $45.77, but opened at $47.02. PBF Energy shares last traded at $47.11, with a volume of 315,486 shares changing hands.

Specifically, insider Control Empresarial De Capital purchased 84,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were bought at an average price of $44.96 per share, for a total transaction of $3,776,640.00. Following the acquisition, the insider now directly owns 14,429,198 shares in the company, valued at $648,736,742.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Control Empresarial De Capital purchased 84,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was bought at an average cost of $44.96 per share, for a total transaction of $3,776,640.00. Following the completion of the purchase, the insider now directly owns 14,429,198 shares of the company’s stock, valued at approximately $648,736,742.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at $6,255,829.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,000 shares of company stock worth $10,074,600. 5.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of PBF Energy from $61.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. Wells Fargo & Company reduced their price objective on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen dropped their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Mizuho cut PBF Energy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Finally, Scotiabank increased their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.82.

Check Out Our Latest Stock Report on PBF

PBF Energy Stock Up 4.1 %

The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $53.20 and its 200 day moving average price is $49.33. The firm has a market cap of $5.65 billion, a P/E ratio of 3.30 and a beta of 1.63.

PBF Energy (NYSE:PBFGet Free Report) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. As a group, research analysts expect that PBF Energy Inc. will post 7.19 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s payout ratio is currently 6.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PBF Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after purchasing an additional 69,422 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PBF Energy by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock valued at $324,487,000 after purchasing an additional 120,414 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PBF Energy by 26.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company’s stock worth $75,001,000 after purchasing an additional 291,284 shares in the last quarter. LSV Asset Management raised its position in shares of PBF Energy by 20.4% during the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after purchasing an additional 216,400 shares during the period. Finally, Norges Bank purchased a new position in PBF Energy in the 4th quarter worth about $54,832,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

(Get Free Report)

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.

Further Reading

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