Insider Selling: PBF Energy (NYSE:PBF) Director Sells 200,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 200,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the sale, the director directly owned 790,716 shares of the company’s stock, valued at approximately $31,683,990.12. This trade represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PBF Energy Price Performance

Shares of PBF stock traded up $5.03 during mid-day trading on Wednesday, hitting $44.79. The company had a trading volume of 6,972,531 shares, compared to its average volume of 3,526,859. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The stock’s 50 day moving average price is $32.73 and its 200-day moving average price is $31.59. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $45.13. The company has a market capitalization of $5.24 billion, a P/E ratio of -30.47, a P/E/G ratio of 5.28 and a beta of 0.41.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. PBF Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.82) EPS. Equities research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s payout ratio is currently -74.83%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. BMO Capital Markets reissued a “market perform” rating and issued a $34.00 target price on shares of PBF Energy in a report on Monday, January 5th. Citigroup boosted their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Finally, Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $30.21.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PBF. Smartleaf Asset Management LLC grew its stake in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 589 shares in the last quarter. Torren Management LLC purchased a new stake in shares of PBF Energy in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 440 shares during the period. Los Angeles Capital Management LLC bought a new position in PBF Energy in the fourth quarter worth approximately $31,000. Finally, Hantz Financial Services Inc. increased its holdings in PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.