PBF Energy (NYSE:PBF) Director Sells $2,531,000.00 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 Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at approximately $40,026,043.92. This represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $0.24 during midday trading on Thursday, reaching $46.33. The company’s stock had a trading volume of 537,319 shares, compared to its average volume of 3,816,074. The stock has a fifty day moving average of $39.28 and a 200 day moving average of $34.29. The firm has a market capitalization of $5.42 billion, a PE ratio of -31.65, a P/E/G ratio of 0.59 and a beta of 0.24. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $52.18.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data 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. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.82) EPS. On average, equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 2.4%. PBF Energy’s payout ratio is presently -74.83%.

Institutional Investors Weigh In On PBF Energy

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $1,140,000 after buying an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $4,996,000 after buying an additional 12,289 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of PBF Energy by 133.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after acquiring an additional 591,975 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PBF shares. Scotiabank upgraded shares of PBF Energy to a “hold” rating in a research report on Friday, March 27th. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Citigroup raised their target price on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research note on Monday, December 8th. Finally, Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $31.69.

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.