Thomas Nimbley Sells 260,063 Shares of PBF Energy (NYSE:PBF) 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 stock was sold at an average price of $67.84, for a total transaction of $17,642,673.92. Following the completion of the sale, the director directly owned 793,737 shares of the company’s stock, valued at $53,847,118.08. This represents a 24.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PBF Energy Trading Up 5.8%

Shares of NYSE:PBF traded up $4.08 on Thursday, reaching $74.42. 2,389,783 shares of the company traded hands, compared to its average volume of 3,378,214. The stock has a market capitalization of $8.82 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The business’s 50-day simple moving average is $53.15 and its 200 day simple moving average is $44.89. 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 52 week low of $22.08 and a 52 week high of $74.74.

PBF Energy (NYSE:PBF) last released 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. The company had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.PBF Energy’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.03) EPS. As a group, equities analysts anticipate that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.275 dividend. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PBF shares. Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Evercore began coverage on shares of PBF Energy in a research note on Friday, July 17th. They set an “in-line” rating and a $58.00 price objective for the company. Scotiabank increased their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group raised their target price on PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, TD Cowen boosted their price target on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, two have given 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 company presently has a consensus rating of “Reduce” and a consensus price target of $50.15.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Invesco Ltd. boosted its stake in PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC grew its position in PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares during the last quarter. Norges Bank bought a new stake in PBF Energy during the 4th quarter valued at about $34,243,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after buying an additional 1,159,628 shares during the last quarter. 96.29% of the stock is currently 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.