PBF Energy Inc. (NYSE:PBF – Get Free Report) Director Thomas Nimbley sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $75.05, for a total value of $7,505,000.00. Following the completion of the transaction, the director directly owned 793,737 shares in the company, valued at $59,569,961.85. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PBF Energy Stock Performance
PBF traded down $1.28 on Wednesday, hitting $73.92. The company had a trading volume of 2,065,706 shares, compared to its average volume of 3,355,634. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company’s fifty day moving average price is $55.72 and its 200 day moving average price is $46.05. PBF Energy Inc. has a 1-year low of $22.13 and a 1-year high of $75.68.
PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the company posted ($1.03) earnings per share. The company’s revenue for the quarter was up 56.2% compared to the same quarter last year. Equities analysts predict that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.
PBF Energy Dividend Announcement
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 242 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares in the last quarter. Merit Financial Group LLC lifted its position in PBF Energy by 3.4% in the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock worth $268,000 after purchasing an additional 325 shares during the period. Janney Montgomery Scott LLC boosted its stake in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after buying an additional 383 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 432 shares during the period. Institutional investors own 96.29% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on PBF shares. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. The Goldman Sachs Group lifted their price objective on PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group lifted their price objective on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Citigroup boosted their price objective on PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and an average price target of $50.92.
Check Out Our Latest Report on PBF Energy
Trending Headlines about PBF Energy
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
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.
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