Insider Selling: PBF Energy (NYSE:PBF) Director Sells $8,553,269.84 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 116,008 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at $58,522,229.01. This trade represents a 12.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Trading Up 5.8%

Shares of PBF Energy stock opened at $73.56 on Friday. The firm 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 1 year low of $22.20 and a 1 year high of $75.68. 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 stock has a fifty day moving average price of $57.55 and a 200-day moving average price of $46.78.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results 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. The company had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.03) EPS. Equities research analysts anticipate that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 14th. PBF Energy’s payout ratio is presently 9.73%.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. Torren Management LLC purchased a new position in shares of PBF Energy in the fourth quarter worth about $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter valued at approximately $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy during the 1st quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its holdings in 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 worth $38,000 after buying an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in PBF Energy in the 4th quarter worth approximately $57,000. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of research reports. TD Cowen increased their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Citigroup upped their price objective on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Morgan Stanley increased their price objective on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $50.92.

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.