PBF Energy (NYSE:PBF) Reaches New 1-Year High – Still a Buy?

Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week high on Thursday . The stock traded as high as $37.26 and last traded at $37.9010, with a volume of 196895 shares traded. The stock had previously closed at $35.32.

Analyst Upgrades and Downgrades

PBF has been the subject of several analyst reports. Citigroup lifted their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Tudor Pickering downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Wells Fargo & Company upped their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group increased their target price on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $27.83.

PBF Energy Stock Performance

The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -7.92 and a beta of 0.79. The stock’s 50 day moving average price is $30.82 and its 200 day moving average price is $25.08. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

Insider Activity

In related news, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the senior vice president owned 207,984 shares in the company, valued at approximately $7,071,456. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Steven John Andriola sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total value of $36,040.72. Following the completion of the sale, the chief accounting officer owned 20,974 shares in the company, valued at $721,295.86. This represents a 4.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 381,048 shares of company stock worth $13,212,041. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in PBF Energy by 761.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,248 shares during the last quarter. Allworth Financial LP lifted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PBF Energy in the first quarter valued at approximately $35,000. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds 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.