PBF Energy (NYSE:PBF) Stock Price Up 8.3% on Insider Buying Activity

Shares of PBF Energy Inc. (NYSE:PBF) traded up 8.3% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $29.62 and last traded at $30.02. 481,339 shares changed hands during trading, a decline of 76% from the average session volume of 2,011,880 shares. The stock had previously closed at $27.72.

Specifically, insider Control Empresarial De Capital purchased 46,000 shares of PBF Energy stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $29.70 per share, with a total value of $1,366,200.00. Following the purchase, the insider now owns 29,190,998 shares in the company, valued at approximately $866,972,640.60. The trade was a 0.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Control Empresarial De Capital purchased 60,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $29.29 per share, with a total value of $1,757,400.00. Following the completion of the purchase, the insider now owns 29,144,998 shares in the company, valued at $853,656,991.42. This represents a 0.21 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PBF. Scotiabank decreased their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Bank of America assumed coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.00.

PBF Energy Trading Up 8.1 %

The stock has a market cap of $3.45 billion, a P/E ratio of -11.67 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $28.86 and its 200 day simple moving average is $31.79.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in PBF Energy by 7.0% in the second quarter. Creative Planning now owns 17,895 shares of the oil and gas company’s stock valued at $824,000 after acquiring an additional 1,165 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of PBF Energy in the 2nd quarter worth $1,176,000. Wedge Capital Management L L P NC grew its stake in shares of PBF Energy by 10.1% during the third quarter. Wedge Capital Management L L P NC now owns 33,551 shares of the oil and gas company’s stock worth $1,038,000 after purchasing an additional 3,083 shares during the period. Bfsg LLC grew its stake in shares of PBF Energy by 23.5% during the third quarter. Bfsg LLC now owns 7,120 shares of the oil and gas company’s stock worth $220,000 after purchasing an additional 1,354 shares during the period. Finally, nVerses Capital LLC increased its holdings in PBF Energy by 48.3% in the third quarter. nVerses Capital LLC now owns 8,600 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 2,800 shares during 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.