PBF Energy Sees Unusually Large Options Volume (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) saw some unusual options trading on Thursday. Stock traders acquired 64,035 put options on the company. This is an increase of 3,175% compared to the typical daily volume of 1,955 put options.

PBF Energy Price Performance

Shares of NYSE PBF opened at $33.90 on Friday. The stock has a market capitalization of $3.93 billion, a PE ratio of -23.06, a P/E/G ratio of 3.90 and a beta of 0.50. PBF Energy has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The business has a fifty day moving average price of $30.95 and a two-hundred day moving average price of $30.63.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the business earned ($2.82) earnings per share. PBF Energy’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $36.79, for a total value of $110,370.00. Following the completion of the transaction, the insider directly owned 28,440,198 shares of the company’s stock, valued at approximately $1,046,314,884.42. This represents a 0.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 2,385,879 shares of company stock valued at $82,719,180. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 589 shares during the last quarter. Torren Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at about $31,000. Deseret Mutual Benefit Administrators grew its position 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. Finally, Hantz Financial Services Inc. raised its stake in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 912 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PBF. Zacks Research downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Piper Sandler raised their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective on the stock. in a research note on Monday, December 8th. TD Cowen reaffirmed a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. Finally, Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $30.21.

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.