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 business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $67.84, for a total value of $17,642,673.92. Following the sale, the director owned 793,737 shares in the company, valued at approximately $53,847,118.08. The trade was a 24.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PBF Energy Price Performance

NYSE PBF traded up $4.08 during trading hours on Thursday, hitting $74.42. The company had a trading volume of 2,389,783 shares, compared to its average volume of 3,378,214. PBF Energy Inc. has a 52 week low of $22.08 and a 52 week high of $74.74. The firm has a 50 day simple moving average of $53.15 and a 200 day simple moving average of $44.89. 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 firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.08 and a beta of 0.10.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share 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 quarter in the previous year, the firm earned ($1.03) EPS. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. Equities research analysts expect that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The company 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. The ex-dividend date is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.5%. PBF Energy’s dividend payout ratio is currently 9.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PBF shares. Citigroup boosted their price target on shares of PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Evercore began coverage on PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price objective on the stock. TD Cowen lifted their price objective on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group upped their target price on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One research 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $50.15.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in shares of PBF Energy by 81.7% during the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 30,430 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after buying an additional 3,550,820 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in PBF Energy by 351.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company’s stock worth $7,200,000 after buying an additional 206,666 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in PBF Energy during the fourth quarter valued at approximately $1,485,000. Finally, Jefferies Financial Group Inc. grew its position in PBF Energy by 7,210.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock valued at $17,037,000 after acquiring an additional 619,622 shares during the last quarter. 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.