PBF Energy (NYSE:PBF) Director Sells $2,568,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $51.36, for a total value of $2,568,000.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at $40,611,173.76. The trade was a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PBF Energy Trading Up 1.6%

NYSE PBF opened at $51.19 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of -34.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $51.80. The stock has a 50 day simple moving average of $38.27 and a two-hundred day simple moving average of $33.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm earned ($2.82) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s payout ratio is presently -74.83%.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after buying an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after buying an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after acquiring an additional 12,289 shares in the last quarter. Acadian Asset Management LLC lifted its position in PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,354 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in PBF Energy by 135.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,277 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 3,613 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

PBF has been the subject of several research analyst reports. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. The Goldman Sachs Group boosted their price target on shares of PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Mizuho raised their price objective on shares of PBF Energy from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective on the stock. in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $31.69.

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.