PBF Energy (NYSE:PBF) Stock Price Up 3.2% After Insider Buying Activity

PBF Energy Inc. (NYSE:PBF) shares rose 3.2% on Thursday following insider buying activity. The stock traded as high as $32.40 and last traded at $32.21. Approximately 751,006 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 2,139,808 shares. The stock had previously closed at $31.21.

Specifically, insider Control Empresarial De Capital purchased 55,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $30.85 per share, for a total transaction of $1,696,750.00. Following the completion of the transaction, the insider now directly owns 23,462,398 shares in the company, valued at $723,814,978.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PBF. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. UBS Group lowered their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Wolfe Research began coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price target on PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group lowered their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.73.

PBF Energy Trading Up 4.0 %

The company has a 50 day moving average of $34.42 and a 200 day moving average of $44.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 2.16 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts predict that PBF Energy Inc. will post 0.35 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new stake in PBF Energy in the 1st quarter valued at about $27,000. National Bank of Canada FI purchased a new stake in PBF Energy in the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in PBF Energy in the 4th quarter valued at about $29,000. Finally, CWM LLC raised its holdings in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

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.