Insider Selling: PBF Energy (NYSE:PBF) Director Sells $8,014,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 200,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the sale, the director directly owned 790,716 shares in the company, valued at approximately $31,683,990.12. The trade was a 20.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PBF Energy Stock Down 5.3%

Shares of NYSE:PBF opened at $43.22 on Friday. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $47.18. The company has a market capitalization of $5.05 billion, a PE ratio of -29.40, a price-to-earnings-growth ratio of 6.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The company has a fifty day moving average of $33.46 and a 200-day moving average of $31.83.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s payout ratio is -74.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Piper Sandler raised their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $31.00 to $38.00 in a research note on Friday, December 12th. BMO Capital Markets reissued a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th. Finally, Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $30.21.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted 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 period. State Street Corp increased its position in shares of PBF Energy by 1.3% during the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after buying an additional 60,294 shares during the period. Invesco Ltd. raised its stake in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the last quarter. AQR Capital Management LLC raised its stake in PBF Energy by 20.1% during the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after buying an additional 418,223 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in PBF Energy by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company’s stock valued at $65,108,000 after buying an additional 331,404 shares during the period. Institutional investors and hedge funds 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.