PBF Energy (NYSE:PBF) Stock Price Up 6% – Still a Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price was up 6% on Tuesday . The stock traded as high as $40.24 and last traded at $40.0150. Approximately 1,308,236 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,706,582 shares. The stock had previously closed at $37.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PBF. Mizuho increased their price target on shares of PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Piper Sandler upped their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup lifted their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and an average price target of $33.54.

PBF Energy Trading Up 6.3%

The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $4.69 billion, a P/E ratio of -27.31, a PEG ratio of 0.19 and a beta of 0.25. The business has a 50 day moving average of $41.41 and a 200-day moving average of $35.33.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.82) earnings per share. Analysts anticipate that PBF Energy Inc. will post 4.53 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s payout ratio is currently -74.83%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 1,100,000 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 11,100,825 shares of company stock valued at $488,323,877. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of PBF Energy during the first quarter worth about $1,148,000. Cidel Asset Management Inc. lifted its stake in PBF Energy by 14.5% in the 1st quarter. Cidel Asset Management Inc. now owns 9,494 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 1,204 shares in the last quarter. SG Americas Securities LLC lifted its stake in PBF Energy by 24.2% in the 1st quarter. SG Americas Securities LLC now owns 99,241 shares of the oil and gas company’s stock valued at $4,726,000 after acquiring an additional 19,312 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in PBF Energy during the 1st quarter worth approximately $223,000. Finally, Hsbc Holdings PLC grew its stake in shares of PBF Energy by 81.7% during the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after acquiring an additional 30,430 shares in the last quarter. 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.