PBF Energy Inc. Insider Buys 341,500 Shares

PBF Energy Inc. (NYSE:PBF) recently saw insider Control Empresarial De Capital acquiring a substantial amount of stock. On December 18th, the insider bought 341,500 shares at an average price of $26.86 per share, resulting in a total transaction worth approximately $9,172,690. This move increased Control Empresarial De Capital's direct ownership in the company, bringing their total shares owned to 28,814,998, which is currently valued at around $773,970,846.28. This reflects a 1.20% increase in their stake in PBF Energy.

This latest purchase is part of a series of investments made by Control Empresarial De Capital. Earlier in December, they acquired 300,000 shares on December 4th at an average of $30.82 per share, totaling $9,246,000. Other notable transactions include:

• On November 29th, 195,000 shares were bought at an average price of $31.12, totaling $6,068,400.
• On November 27th, 409,000 shares were acquired at $31.58 per share, amounting to $12,916,220.
• On November 25th, 57,000 shares were purchased at $31.70 for a total of $1,806,900.
• On November 19th, they bought 100,000 shares at an average of $31.28, totaling $3,128,000.
• On November 5th, 85,000 shares were purchased at $28.37 each, costing $2,411,450.
• On November 1st, 150,000 shares were bought at $28.66, totaling $4,299,000.
• On October 30th, 300,000 shares were acquired at $29.01 per share, resulting in an expenditure of $8,703,000.
• On October 28th, 75,000 shares were bought at $31.58 for a total of $2,368,500.
• On October 23rd, 287,100 shares were purchased at an average price of $31.91, costing $9,161,361.

PBF Energy Stock Overview

As of the recent trading session, PBF Energy's stock opened at $25.15. The company maintains a strong financial position with a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The company's market capitalization stands at $2.90 billion, with a P/E ratio of -9.71 and a beta of 1.57. Over the past year, shares have reached a low of $24.21 and a high of $62.88, illustrating significant volatility.

PBF Energy disclosed its earnings results on October 31st, reporting a loss of $1.50 earnings per share (EPS) for the quarter. This was below analysts’ expectations of a loss of $1.41 per share. The company's revenue for this period was $8.38 billion, slightly exceeding the forecast of $8.27 billion. Compared to the previous year, revenue dropped by 21.9%, highlighting challenges faced during that quarter.

PBF Energy Dividend Announcement

In addition to share purchases, PBF Energy announced a quarterly dividend of $0.275 per share, which was paid on November 27th. This reflects an annualized dividend of $1.10, translating to a yield of 4.37%. The dividend previous to this was $0.25, indicating a positive change in shareholder returns. The payout ratio is currently at -42.47%, showing the company’s policy toward shareholder equity.

Institutional Investor Activity

Recently, several institutional investors have adjusted their stakes in PBF Energy. National Bank of Canada FI bought shares valued around $26,000, while Quarry LP and Harbor Capital Advisors acquired positions valued at approximately $48,000 and $59,000, respectively. Notably, Blue Trust Inc. increased its investment in PBF Energy by over 1,291%, signaling growing interest from institutional investors. Overall, institutional ownership in the company remains high at 96.29%.

Analysts’ Ratings and Price Targets

Wall Street analysts have varied opinions on PBF Energy. Recently, The Goldman Sachs Group updated its price target for PBF Energy shares from $38.00 to $34.00, maintaining a “neutral” rating. In contrast, Wells Fargo & Company downgraded their stance from “overweight” to “equal weight,” adjusting their price target from $39.00 to $34.00. As a result, the prevailing sentiment is one of caution, with numerous analysts suggesting a hold strategy for potential investors seeking entry points.

About PBF Energy

PBF Energy Inc. engages in the refining and supply of petroleum products through its subsidiaries. The company operates in two key segments—Refining and Logistics—producing a variety of products, including gasoline, diesel fuels, and other petroleum-based materials derived from crude oil.

Insider, Transaction, Investment, Stocks, Dividends, Finance