PBF Energy (NYSE:PBF) Director Thomas Nimbley Sells 260,063 Shares of Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 260,063 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $67.84, for a total transaction of $17,642,673.92. Following the sale, the director directly owned 793,737 shares of the company’s stock, valued at approximately $53,847,118.08. This represents a 24.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PBF Energy Trading Up 5.8%

PBF opened at $74.42 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company’s 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $45.18. PBF Energy Inc. has a 1-year low of $22.08 and a 1-year high of $74.74. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10.

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

PBF Energy Dividend Announcement

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

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Parallel Advisors LLC boosted its position in shares of 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 period. PNC Financial Services Group Inc. raised its position in PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares during the period. Merit Financial Group LLC lifted its stake in PBF Energy by 3.4% during the fourth 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 boosted its position in shares of PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after buying an additional 383 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after buying an additional 432 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about PBF Energy

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

• Negative Sentiment: Control Empresarial De Capital, a major PBF Energy holder, sold a combined 370,375 shares on August 11–12 for approximately $25.7 million. The transactions reduced its position by about 2.5%, though it still owns roughly 14.6 million shares. Control Empresarial De Capital SEC filing
• Negative Sentiment: Director Thomas J. Nimbley sold 260,063 shares for approximately $17.6 million, cutting his holdings by 24.7% to 793,737 shares. The size of the reduction could weigh on sentiment, particularly after PBF’s recent advance. Thomas J. Nimbley SEC filing
• Negative Sentiment: SVP Paul T. Davis sold 63,295 shares for approximately $4.5 million, reducing his ownership by 25.7% to 183,426 shares. CFO Joseph Daniel Marino also sold 4,033 shares worth about $279,000, lowering his holdings by 7.6% to 48,851 shares. Paul T. Davis SEC filing Joseph Daniel Marino SEC filing

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PBF shares. Morgan Stanley raised their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. Evercore initiated coverage on shares of PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price on the stock. TD Cowen increased their price target on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and a consensus price target of $50.15.

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.