Insider Selling: PBF Energy (NYSE:PBF) Director Sells $12,345,051.25 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 169,925 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $72.65, for a total transaction of $12,345,051.25. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $57,664,993.05. The trade was a 17.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Stock Up 4.4%

Shares of PBF traded up $3.19 during mid-day trading on Monday, reaching $75.04. The company’s stock had a trading volume of 2,944,438 shares, compared to its average volume of 3,371,942. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The business has a fifty day moving average of $54.37 and a 200 day moving average of $45.46. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. PBF Energy Inc. has a 1 year low of $22.13 and a 1 year high of $75.68.

PBF Energy (NYSE:PBF) last issued 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. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.PBF Energy’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.03) earnings per share. As a group, analysts forecast that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

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

Analyst Ratings Changes

PBF has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. UBS Group lifted 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. TD Cowen upped their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Evercore initiated coverage on PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 price objective on the stock. Finally, Scotiabank raised their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Reduce” and a consensus target price of $50.15.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently modified their holdings of PBF. Wedge Capital Management L L P NC raised its stake in shares of PBF Energy by 19.3% during the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock worth $1,996,000 after buying an additional 7,107 shares during the last quarter. Parallel Advisors LLC lifted its stake in PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 242 shares during the period. Bull Harbor Capital LLC bought a new position in PBF Energy during the first quarter worth about $212,000. Amundi bought a new position in PBF Energy during the first quarter worth about $1,574,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of PBF Energy by 24.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock valued at $225,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.