Thomas Nimbley Sells 250,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 250,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total value of $8,627,500.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at approximately $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

PBF Energy Stock Up 0.6%

Shares of PBF Energy stock traded up $0.21 on Tuesday, reaching $35.30. 2,500,293 shares of the company were exchanged, compared to its average volume of 3,220,928. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $36.67. The company has a market cap of $4.08 billion, a P/E ratio of -7.59 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The stock’s 50 day moving average price is $30.25 and its 200-day moving average price is $24.77.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the previous year, the company posted ($1.50) earnings per share. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, November 14th. This represents a $1.10 annualized dividend and a yield of 3.1%. PBF Energy’s payout ratio is presently -23.66%.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of PBF Energy by 43.5% during the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 1,000 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of PBF Energy during the first quarter worth approximately $242,000. Mutual Advisors LLC raised its stake in shares of PBF Energy by 31.9% during the first quarter. Mutual Advisors LLC now owns 31,293 shares of the oil and gas company’s stock worth $597,000 after purchasing an additional 7,564 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of PBF Energy by 1.1% during the first quarter. Principal Financial Group Inc. now owns 227,352 shares of the oil and gas company’s stock worth $4,340,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of PBF Energy by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after purchasing an additional 260,464 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PBF shares. Wells Fargo & Company boosted their target price on PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Bank of America boosted their target price on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 target price for the company. in a research note on Monday, September 15th. Finally, Scotiabank boosted their target price on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $27.83.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.