Thomas Nimbley Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the transaction, the director directly owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PBF Energy Stock Performance

Shares of NYSE PBF traded up $0.24 during trading on Thursday, reaching $46.33. 537,319 shares of the company traded hands, compared to its average volume of 3,816,074. The firm has a 50 day simple moving average of $39.28 and a 200-day simple moving average of $34.29. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $52.18. The stock has a market capitalization of $5.42 billion, a PE ratio of -31.65, a P/E/G ratio of 0.59 and a beta of 0.24. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s dividend payout ratio is presently -74.83%.

Analysts Set New Price Targets

Several brokerages have issued reports on PBF. Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Mizuho upped their target price on shares of PBF Energy from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Citigroup lifted their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Piper Sandler increased their target price on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $31.69.

Institutional Trading of PBF Energy

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

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.