PBF Energy (NYSE:PBF) Director Sells $8,627,500.00 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 250,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

PBF Energy Stock Performance

NYSE:PBF traded up $0.21 during midday trading on Tuesday, hitting $35.30. The company’s stock had a trading volume of 2,500,293 shares, compared to its average volume of 3,220,928. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $36.67. The firm’s 50 day moving average is $30.25 and its 200-day moving average is $24.77. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The firm has a market cap of $4.08 billion, a P/E ratio of -7.59 and a beta of 0.79.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. PBF Energy’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.50) EPS. Equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.1%. PBF Energy’s dividend payout ratio (DPR) is presently -23.66%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PBF shares. Morgan Stanley set a $27.00 price objective on shares of PBF Energy and gave the stock an “underweight” rating in a research note on Friday, October 3rd. Scotiabank increased their target price on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. The Goldman Sachs Group increased their target price on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Bank of America raised their price objective on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Finally, TD Cowen upped their price objective on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $27.83.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in PBF Energy by 170.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after acquiring an additional 3,612,447 shares in the last quarter. Bank of New York Mellon Corp grew its position in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after acquiring an additional 260,464 shares in the last quarter. AQR Capital Management LLC grew its position in PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after acquiring an additional 1,454,500 shares in the last quarter. American Century Companies Inc. grew its position in PBF Energy by 1.7% in the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after acquiring an additional 32,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PBF Energy by 12.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock valued at $31,981,000 after acquiring an additional 182,456 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.