PBF Energy (NYSE:PBF) Director Thomas Nimbley Sells 468,139 Shares of Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 468,139 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the transaction, the director directly owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PBF Energy Trading Down 3.1%

PBF opened at $65.81 on Wednesday. The stock has a 50-day moving average of $50.30 and a 200 day moving average of $43.46. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. PBF Energy Inc. has a 12 month low of $21.46 and a 12 month high of $74.74. The firm has a market cap of $7.79 billion, a P/E ratio of 5.82, a P/E/G ratio of 0.10 and a beta of 0.10.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data 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. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.03) earnings per share. As a group, research analysts forecast that PBF Energy Inc. will post 12.56 EPS for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 yield of 1.7%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Evercore assumed 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 for the company. The Goldman Sachs Group lifted their price target on shares of PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Freedom Capital downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Morgan Stanley increased 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $50.15.

PBF Energy News Roundup

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

• Positive Sentiment: PBF Energy’s recent quarterly results were significantly stronger than expected, with adjusted earnings of $6.22 per share versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year. The earnings beat has contributed to upward estimate revisions and bullish momentum. Why PBF Energy Might be Well Poised for a Surge
• Positive Sentiment: Zacks identified PBF as a stock with strong relative price strength, positive earnings revisions and solid fundamentals. Another report said growth investors should not overlook the refiner because of above-average financial growth. 5 Stocks With Relative Price Strength Investors Should Buy
• Positive Sentiment: An analyst price target was reportedly raised to $74, reinforcing the near-term bullish case. PBF also declared its regular $0.275-per-share quarterly dividend, equal to $1.10 annually. PBF Energy Price Target Raised to $74.00
• Neutral Sentiment: Despite the recent rally, analyst sentiment remains mixed: the consensus rating is “Hold,” with a consensus price target of $46.31, well below recent trading levels. Institutional investors still own approximately 96.3% of the shares.
• Negative Sentiment: Several insiders sold significant positions after the rally. CEO Matthew C. Lucey sold 225,473 shares for approximately $16.2 million, director Thomas J. Nimbley sold 468,139 shares for about $32.6 million, and Control Empresarial De Capital sold 490,000 shares worth roughly $34.9 million. Although the latter retained nearly 15 million shares, the cluster of sales may weigh on investor sentiment. PBF Energy Insider Selling

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. Torren Management LLC purchased a new stake in shares of PBF Energy during the fourth quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new position in PBF Energy in the 4th quarter worth about $31,000. Leonteq Securities AG purchased a new position in PBF Energy in the 1st quarter worth about $33,000. Smartleaf Asset Management LLC lifted its holdings in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.