PBF Energy (NYSE:PBF) Trading 5% Higher – Time to Buy?

PBF Energy Inc. (NYSE:PBF)’s share price shot up 5% during trading on Monday . The stock traded as high as $29.40 and last traded at $29.38. 218,445 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,682,090 shares. The stock had previously closed at $27.98.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PBF shares. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Wells Fargo & Company cut PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $39.00 to $34.00 in a research report on Monday, December 9th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Bank of America started coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, The Goldman Sachs Group reduced their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.00.

PBF Energy Trading Up 5.9 %

The company has a market cap of $3.41 billion, a price-to-earnings ratio of -11.44 and a beta of 1.61. The firm has a 50 day moving average price of $29.12 and a two-hundred day moving average price of $33.22. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.61 EPS. As a group, equities analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 287,100 shares of PBF Energy stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the completion of the transaction, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. This trade represents a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders acquired 3,369,600 shares of company stock valued at $102,820,721. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in PBF Energy during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new stake in shares of PBF Energy in the 3rd quarter worth approximately $48,000. Harbor Capital Advisors Inc. bought a new stake in shares of PBF Energy in the 3rd quarter worth approximately $59,000. Finally, Blue Trust Inc. lifted its position in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,027 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.