PBF Energy (NYSE:PBF) Director Sells 116,008 Shares of Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 116,008 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the sale, the director directly owned 793,737 shares in the company, valued at $58,522,229.01. The trade was a 12.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PBF Energy Stock Performance

Shares of NYSE:PBF traded down $1.28 during trading on Wednesday, hitting $73.92. 2,065,706 shares of the stock traded hands, compared to its average volume of 3,355,634. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $55.72 and a two-hundred day moving average price of $46.05. PBF Energy Inc. has a 52-week low of $22.13 and a 52-week high of $75.68. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 6.54, a P/E/G ratio of 0.08 and a beta of 0.10.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.03) earnings per share. As a group, equities analysts predict that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. PBF Energy’s dividend payout ratio (DPR) is 9.73%.

Key Stories Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Goldman Sachs raised its price target for PBF Energy (PBF) from $71 to $81 while maintaining a neutral rating. The new target implies additional upside and reflects improved expectations for earnings and refining conditions. Goldman Sachs price target report
• Positive Sentiment: PBF is being highlighted as a potential growth and value stock because of above-average financial growth, a low earnings valuation, and favorable business momentum. Its latest quarterly results showed $6.22 in EPS versus a $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion. PBF Energy growth stock analysis
• Positive Sentiment: Gasoline prices above $4 per gallon and tight fuel supplies could support stronger crack spreads and refining margins, which would benefit independent refiners such as PBF. The Martinez refinery restart also improves operating capacity. Refining stocks benefiting from higher gasoline prices
• Neutral Sentiment: Goldman’s neutral rating indicates that, despite the higher target, analysts remain cautious about the sustainability of refining margins and the cyclical nature of PBF’s earnings. PBF Energy refining margins and valuation
• Negative Sentiment: Insiders have continued selling after the stock’s sharp advance. Control Empresarial De Capital sold another 120,000 shares for approximately $9.0 million on August 17, following earlier sales, while the CEO, a director, and an SVP also sold sizable positions. The transactions may raise concerns about valuation or future refining conditions, even though Control Empresarial still owns more than 14 million shares. PBF Energy insider sale filing

Analyst Ratings Changes

PBF has been the subject of a number of analyst reports. Evercore started coverage on PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target for the company. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Citigroup boosted their price objective on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Mizuho upped their target price on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Freedom Capital lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $50.92.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of PBF. Archer Investment Corp acquired a new position in shares of PBF Energy during the second quarter valued at approximately $347,000. Wedge Capital Management L L P NC boosted its stake in PBF Energy by 19.3% during the 2nd 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 purchasing an additional 7,107 shares during the last quarter. Parallel Advisors LLC boosted its stake in PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the last quarter. Bull Harbor Capital LLC purchased a new stake in shares of PBF Energy during the first quarter worth $212,000. Finally, Amundi acquired a new stake in shares of PBF Energy in the first quarter valued at about $1,574,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.