PBF Energy (NYSE:PBF) Hits New 1-Year High – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $76.16 and last traded at $73.7970, with a volume of 183731 shares trading hands. The stock had previously closed at $72.99.

Analyst Ratings Changes

PBF has been the topic of several recent research reports. Evercore assumed coverage on PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Friday, August 7th. Freedom Capital lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Morgan Stanley increased their target price on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Finally, TD Cowen raised their target price on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.42.

PBF Energy Trading Up 0.8%

The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $8.96 billion, a P/E ratio of 6.69, a PEG ratio of 0.09 and a beta of 0.09. The business has a 50 day moving average of $62.70 and a 200-day moving average of $48.93.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. Analysts anticipate that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. PBF Energy’s dividend payout ratio is presently 9.73%.

Insider Buying and Selling

In related news, Director Thomas J. Nimbley sold 468,139 shares of PBF Energy stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $69.54, for a total value of $32,554,386.06. Following the sale, the director owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,912,674 shares of company stock worth $360,769,134. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the fourth quarter valued at $31,000. Leonteq Securities AG acquired a new stake in shares of PBF Energy during the 1st quarter worth about $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after buying an additional 579 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the 4th quarter worth about $57,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock worth $60,000 after buying an additional 2,147 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.