Key Points
- Director Thomas Nimbley sold 100,000 PBF Energy shares at an average price of $75.05, generating approximately $7.5 million and reducing his position by 11.19%.
- PBF Energy reported strong quarterly results, with EPS of $6.22 versus the $4.15 analyst consensus and revenue of $11.68 billion, up 56.2% year over year.
- The stock has rallied near its 52-week high, but analyst sentiment remains cautious: the consensus rating is “Reduce” with a $50.92 target price, despite some analysts raising their targets.
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 owned 793,737 shares of the company's stock, valued at approximately $59,569,961.85. The trade was a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
PBF Energy Trading Down 1.7%
NYSE PBF opened at $73.92 on Thursday. The firm has a market capitalization of $8.76 billion, a PE ratio of 6.54, a P/E/G ratio of 0.09 and a beta of 0.10. The stock's 50 day moving average is $56.34 and its 200 day moving average is $46.34. PBF Energy Inc. has a twelve month low of $22.13 and a twelve month high of $75.68. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm's quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.03) earnings per share. Research analysts forecast that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal 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 paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. PBF Energy's dividend payout ratio (DPR) is presently 9.73%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on PBF shares. Wall Street Zen raised shares of PBF Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Citigroup raised their target price on shares of PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PBF Energy in a research note on Friday, August 7th. TD Cowen lifted their target price 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. Finally, The Goldman Sachs Group boosted their price target on PBF Energy from $71.00 to $81.00 and gave the stock a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $50.92.
Read Our Latest Report on PBF Energy
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of 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 valued at $171,595,000 after buying an additional 3,550,820 shares during the last quarter. Invesco Ltd. increased its position in shares of 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 valued at $83,639,000 after acquiring an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC raised its holdings in PBF Energy by 230.7% in the 2nd 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 during the last quarter. Norges Bank purchased a new position in PBF Energy in the 4th quarter worth approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company's stock worth $36,577,000 after acquiring an additional 1,159,628 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.
PBF Energy News Roundup
Here are the key news stories impacting PBF Energy this week:
- Positive Sentiment: Goldman Sachs raised its price target for PBF Energy from $71 to $81 while maintaining a neutral rating, indicating additional potential upside from recent levels. Goldman Sachs Price Target Update
- Positive Sentiment: The company continues to benefit from strong recent fundamentals. Second-quarter earnings significantly exceeded expectations, the Martinez refinery restart was completed, and gross debt declined by more than $1 billion. Tight fuel supplies and elevated gasoline prices could also support refining margins. PBF Energy Martinez Refinery Restart
- Neutral Sentiment: Analysts and quantitative screens continue to identify PBF Energy as a potential growth or value opportunity because of its low valuation and improving financial performance. However, the broader analyst consensus remains cautious, reflecting the cyclical nature of refining earnings. PBF Energy Growth Stock Analysis
- Negative Sentiment: Director Thomas J. Nimbley sold 341,008 shares over August 17–19 for approximately $25.4 million, reducing his holdings by roughly 38% across the reported transactions. Control Empresarial de Capital also sold 120,000 shares for about $9.0 million and has made multiple recent sales. The scale and clustering of these transactions may signal profit-taking or raise concerns about insider confidence. PBF Energy Insider Sale Filings
- Negative Sentiment: PBF Energy’s rapid rally has brought valuation and margin sustainability into focus. Some analysts retain sell ratings, and the consensus price target remains well below the recent trading range, suggesting investors may be concerned that peak refining margins and earnings are not durable. PBF Energy Refining Margins and Valuation
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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