PBF Energy (NYSE:PBF) Director Sells 100,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $75.05, for a total transaction of $7,505,000.00. Following the sale, the director owned 793,737 shares in the company, valued at $59,569,961.85. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PBF Energy Trading Down 1.7%

Shares of NYSE:PBF traded down $1.28 during mid-day trading on Wednesday, hitting $73.92. The stock had a trading volume of 2,065,706 shares, compared to its average volume of 3,355,634. The company’s 50 day moving average is $55.72 and its 200-day moving average is $46.05. PBF Energy Inc. has a 12-month low of $22.13 and a 12-month high of $75.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The company has a market cap of $8.76 billion, a PE ratio of 6.54, a P/E/G ratio of 0.08 and a beta of 0.10.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the company posted ($1.03) EPS. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. On average, sell-side analysts predict that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Announces Dividend

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

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Torren Management LLC bought a new stake in PBF Energy in the fourth quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the fourth quarter valued at about $31,000. Leonteq Securities AG bought a new position in PBF Energy during the first quarter valued at about $33,000. Smartleaf Asset Management LLC raised 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 valued at $38,000 after buying an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of PBF Energy in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PBF shares. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Scotiabank raised their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on PBF Energy from $71.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday. Evercore started coverage on PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price on the stock. Finally, Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $50.92.

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

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.