PBF Energy Sees Unusually Large Options Volume (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 3,130 put options on the stock. This is an increase of 77% compared to the typical daily volume of 1,768 put options.

Analyst Ratings Changes

PBF has been the topic of several research analyst reports. UBS Group reduced their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Morgan Stanley cut their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler lowered their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. 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.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $25.55.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 46,000 shares of PBF Energy stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $29.70 per share, with a total value of $1,366,200.00. Following the acquisition, the insider now owns 29,190,998 shares in the company, valued at $866,972,640.60. This trade represents a 0.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 671,000 shares of company stock valued at $17,862,200 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in PBF Energy by 2,119.6% during the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after buying an additional 392,776 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in PBF Energy during the 3rd quarter worth about $2,404,000. Heartland Advisors Inc. bought a new position in shares of PBF Energy in the 4th quarter worth about $1,420,000. Wealthfront Advisers LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at about $4,515,000. Finally, First Eagle Investment Management LLC boosted its position in shares of PBF Energy by 16.6% during the 4th quarter. First Eagle Investment Management LLC now owns 449,017 shares of the oil and gas company’s stock valued at $11,921,000 after purchasing an additional 64,000 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

PBF Energy Trading Up 2.0 %

NYSE PBF traded up $0.38 on Wednesday, reaching $19.64. The company had a trading volume of 449,925 shares, compared to its average volume of 2,540,594. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -4.17 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy has a fifty-two week low of $18.20 and a fifty-two week high of $62.88. The business has a 50 day moving average of $23.81 and a two-hundred day moving average of $28.01.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. Analysts forecast that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.60%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

PBF Energy Company Profile

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.