Thomas Nimbley Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) Director Thomas Nimbley sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 790,716 shares in the company, valued at approximately $40,611,173.76. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PBF Energy Trading Up 1.6%

NYSE PBF opened at $51.19 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $38.27 and its two-hundred day simple moving average is $33.85. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $51.80. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of -34.82, a PEG ratio of 0.63 and a beta of 0.41.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.82) EPS. Research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research note on Monday, December 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th. Tudor Pickering raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Mizuho lifted their target price on shares of PBF Energy from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Finally, Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $31.69.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in 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 during the period. 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 worth $1,140,000 after acquiring an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of PBF Energy by 4.9% in the first 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 acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC increased its position in shares of PBF Energy by 261.0% in the first 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. raised its stake in shares of PBF Energy by 135.6% during the second 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 last quarter. 96.29% of the stock is 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.