Insider Selling: PBF Energy (NYSE:PBF) Director Sells $9,318,750.00 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $74.55, for a total value of $9,318,750.00. Following the sale, the director owned 793,737 shares in the company, valued at approximately $59,173,093.35. The trade was a 13.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

PBF Energy Stock Up 5.8%

NYSE PBF opened at $73.56 on Friday. The stock has a market cap of $8.72 billion, a PE ratio of 6.51, a P/E/G ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $75.68. The business has a 50 day moving average price of $57.55 and a two-hundred day moving average price of $46.78. 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 (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.03) earnings per share. As a group, sell-side analysts predict that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in PBF Energy during the first quarter worth $33,000. Torren Management LLC bought a new position in shares of PBF Energy in the 4th quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBF. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Evercore assumed coverage on PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target on the stock. Morgan Stanley increased their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. UBS Group raised their price objective on PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. 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 issued a Sell rating to the company. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and a consensus price target 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.