PBF Energy (NYSE:PBF) Stock Jumps 6.4% – Should You Buy?

PBF Energy Inc. (NYSE:PBF)’s share price traded up 6.4% during trading on Wednesday. The stock traded as high as $79.89 and last traded at $80.0530. Approximately 1,552,868 shares changed hands during trading, a decline of 54% from the average daily volume of 3,372,769 shares. The stock had previously closed at $75.23.

Analysts Set New Price Targets

A number of analysts recently weighed in on PBF shares. Morgan Stanley boosted their target price on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research report on Monday, September 14th. TD Cowen lifted their price target on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Mizuho lifted their price target on shares of PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Citigroup boosted their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.55.

PBF Energy Stock Performance

The company has a market cap of $9.49 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 0.06 and a beta of 0.09. The business has a 50 day moving average price of $70.87 and a two-hundred day moving average price of $53.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.PBF Energy’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period last year, the company earned ($1.03) EPS. On average, sell-side analysts anticipate that PBF Energy Inc. will post 22.61 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.2750 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. PBF Energy’s dividend payout ratio (DPR) is currently 9.73%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 490,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the sale, the insider owned 14,992,128 shares of the company’s stock, valued at $1,068,339,041.28. This represents a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Nimbley sold 468,139 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the sale, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,926,374 shares of company stock valued at $335,005,837 over the last three months. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of PBF Energy by 127.9% during 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 purchasing an additional 3,550,820 shares during the period. Dimensional Fund Advisors LP raised its holdings in PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after acquiring an additional 1,137,533 shares in the last quarter. Norges Bank bought a new position in shares of PBF Energy in the 4th quarter worth about $34,243,000. Finally, Sei Investments Co. lifted its position in PBF Energy by 41.4% during the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock valued at $17,367,000 after acquiring an additional 106,819 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.