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 company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $74.55, for a total value of $9,318,750.00. Following the transaction, the director owned 793,737 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PBF Energy Stock Performance

Shares of PBF traded down $1.28 during midday 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 business’s 50 day moving average price is $55.72 and its two-hundred day moving average price is $46.05. The firm has a market capitalization of $8.76 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. PBF Energy Inc. has a 1-year low of $22.13 and a 1-year high of $75.68.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the company earned ($1.03) EPS. The company’s revenue for the quarter was up 56.2% compared to the same quarter last year. Equities research analysts predict that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid 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%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PBF. UBS Group lifted their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Morgan Stanley increased their target price on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, June 12th. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. The Goldman Sachs Group boosted their price target on shares of PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Citigroup upped their price target on shares of PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $50.92.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBF. Parallel Advisors LLC lifted its holdings in shares of PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 242 shares during the period. PNC Financial Services Group Inc. increased its position in shares of PBF Energy by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 260 shares in the last quarter. Merit Financial Group LLC increased its position in shares of PBF Energy by 3.4% during the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock worth $268,000 after purchasing an additional 325 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in PBF Energy by 5.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 383 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PBF Energy by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy News Summary

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

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.