Insider Selling: PBF Energy (NYSE:PBF) Director Sells $7,505,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 100,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $75.05, for a total value of $7,505,000.00. Following the completion of the transaction, the director directly owned 793,737 shares of the company’s stock, valued at approximately $59,569,961.85. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

PBF Energy Price Performance

PBF Energy stock opened at $73.56 on Friday. The business has a 50 day simple moving average of $57.55 and a 200 day simple moving average of $46.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company has a market capitalization of $8.72 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a one year low of $22.20 and a one year high of $75.68.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the business posted ($1.03) earnings per share. The business’s revenue was up 56.2% compared to the same quarter last year. On average, sell-side analysts forecast that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. PBF Energy’s dividend payout ratio is presently 9.73%.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in PBF Energy in the fourth quarter worth about $30,000. Los Angeles Capital Management LLC bought a new stake in PBF Energy during the 4th quarter worth about $31,000. Leonteq Securities AG acquired a new position in PBF Energy during the 1st quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its stake in shares of PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of PBF Energy in the 4th quarter valued at about $57,000. Institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PBF. Evercore began coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 price target for the company. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Mizuho lifted their target price on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. TD Cowen boosted their target price on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, UBS Group increased their price target on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $50.92.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.