PBF Energy (NYSE:PBF) Shares Gap Up After Insider Buying Activity

PBF Energy Inc. (NYSE:PBFGet Free Report)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $45.77, but opened at $47.02. PBF Energy shares last traded at $47.11, with a volume of 315,486 shares.

Specifically, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the transaction, the senior vice president now owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Control Empresarial De Capital acquired 84,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were bought at an average cost of $44.96 per share, for a total transaction of $3,776,640.00. Following the completion of the acquisition, the insider now directly owns 14,429,198 shares of the company’s stock, valued at $648,736,742.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 180,000 shares of company stock valued at $10,074,600. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PBF shares. TD Cowen dropped their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday. Mizuho lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.82.

Get Our Latest Analysis on PBF

PBF Energy Stock Performance

The business’s 50-day simple moving average is $53.20 and its two-hundred day simple moving average is $49.33. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 3.30 and a beta of 1.63.

PBF Energy (NYSE:PBFGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. As a group, sell-side analysts expect that PBF Energy Inc. will post 7.19 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in PBF Energy by 26.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company’s stock valued at $75,001,000 after buying an additional 291,284 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of PBF Energy by 2.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,427 shares of the oil and gas company’s stock valued at $986,000 after acquiring an additional 514 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of PBF Energy by 139.2% in the third quarter. HighTower Advisors LLC now owns 60,347 shares of the oil and gas company’s stock worth $3,228,000 after acquiring an additional 35,117 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of PBF Energy by 21.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,530 shares of the oil and gas company’s stock worth $1,206,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in PBF Energy in the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

(Get Free Report)

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.

Further Reading

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