Thomas Nimbley Sells 116,008 Shares of PBF Energy (NYSE:PBF) Stock

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

PBF Energy Trading Down 1.7%

Shares of NYSE:PBF traded down $1.28 during trading on Wednesday, reaching $73.92. 2,065,706 shares of the company were exchanged, compared to its average volume of 3,355,634. PBF Energy Inc. has a 12-month low of $22.13 and a 12-month high of $75.68. The firm has a market capitalization of $8.76 billion, a PE ratio of 6.54, a P/E/G ratio of 0.08 and a beta of 0.10. The business’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $46.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.27% and a net margin of 3.94%.PBF Energy’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the business posted ($1.03) EPS. On average, research analysts anticipate that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Announces Dividend

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

Key PBF Energy News

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

• Positive Sentiment: Goldman Sachs raised its price target for PBF Energy (PBF) from $71 to $81 while maintaining a neutral rating. The new target implies additional upside and reflects improved expectations for earnings and refining conditions. Goldman Sachs price target report
• Positive Sentiment: PBF is being highlighted as a potential growth and value stock because of above-average financial growth, a low earnings valuation, and favorable business momentum. Its latest quarterly results showed $6.22 in EPS versus a $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion. PBF Energy growth stock analysis
• Positive Sentiment: Gasoline prices above $4 per gallon and tight fuel supplies could support stronger crack spreads and refining margins, which would benefit independent refiners such as PBF. The Martinez refinery restart also improves operating capacity. Refining stocks benefiting from higher gasoline prices
• Neutral Sentiment: Goldman’s neutral rating indicates that, despite the higher target, analysts remain cautious about the sustainability of refining margins and the cyclical nature of PBF’s earnings. PBF Energy refining margins and valuation
• Negative Sentiment: Insiders have continued selling after the stock’s sharp advance. Control Empresarial De Capital sold another 120,000 shares for approximately $9.0 million on August 17, following earlier sales, while the CEO, a director, and an SVP also sold sizable positions. The transactions may raise concerns about valuation or future refining conditions, even though Control Empresarial still owns more than 14 million shares. PBF Energy insider sale filing

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PBF shares. Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Mizuho upped their price objective on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Scotiabank raised their price target on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $50.92.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC purchased a new position in shares of PBF Energy during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy in the fourth quarter worth about $31,000. Leonteq Securities AG acquired a new stake in PBF Energy during the first quarter worth about $33,000. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in PBF Energy during the fourth quarter valued at approximately $57,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.