PBF Energy (NYSE:PBF) Trading 5% Higher – Still a Buy?

PBF Energy Inc. (NYSE:PBF)’s share price shot up 5% during trading on Monday . The company traded as high as $29.40 and last traded at $29.38. 218,445 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,682,090 shares. The stock had previously closed at $27.98.

Analysts Set New Price Targets

A number of analysts recently issued reports on PBF shares. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Scotiabank cut their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and cut their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. Bank of America started coverage on PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Seven analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.00.

PBF Energy Trading Up 0.9 %

The firm’s 50-day simple moving average is $29.15 and its 200-day simple moving average is $32.99. The firm has a market capitalization of $3.42 billion, a PE ratio of -11.46 and a beta of 1.61. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $6.61 earnings per share. PBF Energy’s revenue was down 21.9% compared to the same quarter last year. Equities analysts expect that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.275 dividend. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.70%. PBF Energy’s payout ratio is presently -42.47%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 70,000 shares of PBF Energy stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now owns 28,884,998 shares of the company’s stock, valued at approximately $738,300,548.88. This represents a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders bought 2,369,600 shares of company stock worth $71,070,721. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy during the 4th quarter valued at approximately $68,000. FNY Investment Advisers LLC boosted its position in shares of PBF Energy by 1,484.7% during the fourth quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 5,627 shares in the last quarter. West Oak Capital LLC grew its stake in PBF Energy by 6,069.5% in the fourth quarter. West Oak Capital LLC now owns 12,339 shares of the oil and gas company’s stock worth $328,000 after purchasing an additional 12,139 shares during the period. Fortitude Family Office LLC lifted its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of PBF Energy by 35.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company’s stock valued at $1,801,000 after buying an additional 14,892 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.