A substantial insider activity was disclosed on May 20, as Nimbley, Executive Chairman at PBF Energy (NYSE:PBF), reported the exercise of a large sell of company stock options.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Monday revealed that Nimbley, Executive Chairman at PBF Energy in the Energy sector, exercised stock options for 50,000 shares of PBF stock. The exercise price of the options was $24.43 per share.
The Tuesday morning market activity shows PBF Energy shares up by 0.06%, trading at $49.75. This implies a total value of $1,266,000 for Nimbley's 50,000 shares.
Get to Know PBF Energy Better
PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. The company owns refineries in Delaware, Ohio, New Jersey, California, and Louisiana. The Company operates in two reportable business segments: Refining and Logistics. The Company's oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products and are aggregated into the Refining segment. PBFX operates logistics assets such as crude oil and refined products terminals, pipelines and storage facilities. The Logistics segment consists solely of PBFX's operations.
Breaking Down PBF Energy's Financial Performance
Decline in Revenue: Over the ...