PBF Energy Inc. (NYSE:PBF) has reported a significant transaction by Senior Vice President Paul T. Davis, who sold 100,000 shares of Class A Common Stock at a price of $56.3723 per share, totaling approximately $5.6 million. The transaction was disclosed in a recent SEC filing.
The sale took place on March 25, 2024, and following the transaction, Davis's ownership in the company decreased to 110,978 shares. This move comes alongside Davis's acquisition of 100,000 shares through option exercises at prices ranging from $24.43 to $30.89, amounting to a total value of $2,766,000.
The exercised options represent grants from previous years, which were fully vested at the time of the transaction. Specifically, the options exercised at $24.43 per share were granted on October 29, 2014, while those at $30.89 were granted on October 27, 2015. The exercised options were set to expire on October 29, 2024, and October 27, 2025, respectively.
Investors and market watchers often look to insider buying and selling as an indicator of a company's prospects. The recent sale by Davis may be of particular interest to shareholders and potential investors of PBF Energy Inc. as they assess the company's performance and insider confidence.
PBF Energy Inc., headquartered in Parsippany, New Jersey, is a petroleum refining company known for its operations in the Energy & Transportation sector. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol PBF.
InvestingPro Insights
PBF Energy Inc. (NYSE:PBF) has been navigating through a dynamic market landscape, and recent insider transactions have put the spotlight on the company's stock performance and financial health. Here are some insights based on real-time data and InvestingPro Tips that may provide additional context for investors following the recent activities of Senior Vice President Paul T. Davis.
InvestingPro Data shows that PBF Energy Inc. has a market capitalization of approximately $6.7 billion, with an attractive P/E ratio of 3.27. The company's P/E ratio, adjusted for the last twelve months as of Q4 2023, stands at 4.88, reflecting a valuation that may be appealing to value investors. Additionally, PBF has demonstrated a gross profit margin of 7.72% over the same period.
Two InvestingPro Tips that are particularly relevant in light of the recent insider selling include:
1. PBF Energy Inc. has been engaging in aggressive share buybacks, which could signal management confidence in the company's future and potentially lead to an increase in shareholder value.
2. The company is trading at a low revenue valuation multiple, which might indicate that the stock is undervalued relative to its revenue generation capabilities.
It's worth noting that PBF's stock has been trading near its 52-week high, with a price percentage of the high at 94.35%. This could suggest that investors are recognizing the company's potential, despite concerns over weak gross profit margins. With a strong return over the last three months of 22.8%, the company's stock performance has been robust, which may be an encouraging sign for investors.
For those interested in a deeper dive into PBF Energy Inc.'s performance and potential investment opportunities, InvestingPro offers a wealth of additional tips. In fact, there are 12 more InvestingPro Tips available, which can provide a more comprehensive understanding of the company's financial health and market position. To access these tips and enhance your investment strategy, be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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