PBF Energy (NYSE:PBF) Reaches New 52-Week High – What’s Next?

Shares of PBF Energy Inc. (NYSE:PBF) hit a new 52-week high on Wednesday . The stock traded as high as $50.64 and last traded at $50.0770, with a volume of 4951115 shares trading hands. The stock had previously closed at $46.59.

Wall Street Analyst Weigh In

PBF has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Mizuho upped their price target on shares of PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. BMO Capital Markets reissued a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Citigroup raised their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $31.69.

PBF Energy Trading Up 7.5%

The stock has a market capitalization of $5.86 billion, a P/E ratio of -34.07, a price-to-earnings-growth ratio of 4.96 and a beta of 0.41. The stock has a 50-day moving average price of $37.11 and a two-hundred day moving average price of $33.46. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.82) earnings per share. On average, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were issued a $0.275 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 annualized dividend and a yield of 2.2%. PBF Energy’s payout ratio is -74.83%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 1,100,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $46.21, for a total value of $50,831,000.00. Following the completion of the transaction, the insider directly owned 22,996,898 shares in the company, valued at approximately $1,062,686,656.58. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 7,516,600 shares of company stock worth $304,536,896. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently modified their holdings of PBF. Goldman Sachs Group Inc. raised its stake in PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after buying an additional 3,550,820 shares in the last quarter. State Street Corp boosted its position in PBF Energy by 1.3% during the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after acquiring an additional 60,294 shares in the last quarter. Invesco Ltd. boosted its position in PBF Energy by 147.4% during the 3rd 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 grew its holdings in shares of PBF Energy by 20.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after acquiring an additional 418,223 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of PBF Energy by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company’s stock worth $65,108,000 after acquiring an additional 331,404 shares during the period. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.