PBF Energy (NYSE:PBF) Trading 4.1% Higher – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s stock price rose 4.1% during mid-day trading on Wednesday . The company traded as high as $27.24 and last traded at $27.1080. Approximately 1,533,103 shares changed hands during trading, a decline of 51% from the average daily volume of 3,111,871 shares. The stock had previously closed at $26.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PBF shares. Tudor Pickering lowered PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Piper Sandler boosted their target price on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, November 14th. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a report on Monday, December 8th. UBS Group upped their price objective on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Cowen restated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and a consensus price target of $29.38.

PBF Energy Trading Up 4.4%

The business has a 50-day moving average price of $32.67 and a 200-day moving average price of $28.54. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.15 billion, a P/E ratio of -5.85 and a beta of 0.47.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.17. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.50) earnings per share. Analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. PBF Energy’s payout ratio is currently -23.66%.

Insider Transactions at PBF Energy

In other news, CAO Steven John Andriola sold 2,579 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $26.19, for a total transaction of $67,544.01. Following the completion of the sale, the chief accounting officer owned 17,414 shares in the company, valued at $456,072.66. The trade was a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Trecia M. Canty sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the sale, the senior vice president directly owned 200,744 shares of the company’s stock, valued at $7,315,111.36. The trade was a 19.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 429,624 shares of company stock worth $15,534,465 over the last ninety days. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PBF. Smartleaf Asset Management LLC raised its holdings in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 589 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,248 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares during the period. Finally, Quent Capital LLC bought a new stake in shares of PBF Energy in the 3rd quarter valued at about $41,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

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.