Insider Selling: PBF Energy (NYSE:PBF) Director Sells $9,318,750.00 in Stock

by · The Cerbat Gem

PBF Energy Inc. (NYSE:PBF – Get Free Report) Director Thomas Nimbley sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $74.55, for a total value of $9,318,750.00. Following the sale, the director owned 793,737 shares in the company, valued at approximately $59,173,093.35. This trade represents a 13.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PBF Energy Price Performance

PBF stock traded down $1.28 during midday trading on Wednesday, reaching $73.92. 2,065,706 shares of the company’s stock traded hands, compared to its average volume of 3,355,634. The company has a 50-day simple moving average of $55.72 and a two-hundred day simple moving average of $46.05. PBF Energy Inc. has a 1-year low of $22.13 and a 1-year high of $75.68. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 0.08 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for 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%.The business’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. On average, analysts anticipate that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Key PBF Energy News

Here are the key news stories impacting PBF Energy this week:

  • Positive Sentiment: Goldman Sachs raised its price target for PBF Energy (PBF) from $71 to $81 while maintaining a neutral rating. The new target implies additional upside and reflects improved expectations for earnings and refining conditions. Goldman Sachs price target report
  • Positive Sentiment: PBF is being highlighted as a potential growth and value stock because of above-average financial growth, a low earnings valuation, and favorable business momentum. Its latest quarterly results showed $6.22 in EPS versus a $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion. PBF Energy growth stock analysis
  • Positive Sentiment: Gasoline prices above $4 per gallon and tight fuel supplies could support stronger crack spreads and refining margins, which would benefit independent refiners such as PBF. The Martinez refinery restart also improves operating capacity. Refining stocks benefiting from higher gasoline prices
  • Neutral Sentiment: Goldman’s neutral rating indicates that, despite the higher target, analysts remain cautious about the sustainability of refining margins and the cyclical nature of PBF’s earnings. PBF Energy refining margins and valuation
  • Negative Sentiment: Insiders have continued selling after the stock’s sharp advance. Control Empresarial De Capital sold another 120,000 shares for approximately $9.0 million on August 17, following earlier sales, while the CEO, a director, and an SVP also sold sizable positions. The transactions may raise concerns about valuation or future refining conditions, even though Control Empresarial still owns more than 14 million shares. PBF Energy insider sale filing

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PBF. Goldman Sachs Group Inc. lifted its holdings in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. Invesco Ltd. increased its holdings in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares in the last quarter. Norges Bank bought a new position in shares of PBF Energy during the 4th quarter valued at about $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after purchasing an additional 1,159,628 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Scotiabank boosted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research note on Friday, August 7th. Finally, TD Cowen raised their price target on shares of 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 assigned a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $50.92.

Read Our Latest Stock Analysis on PBF

PBF Energy Company Profile

(Get Free Report)

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.

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