PBF Energy (NYSE:PBF) Stock Price Up 4.1% After Insider Buying Activity

Shares of PBF Energy Inc. (NYSE:PBF) rose 4.1% on Tuesday following insider buying activity. The stock traded as high as $26.68 and last traded at $26.62. Approximately 340,226 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,160,078 shares. The stock had previously closed at $25.57.

Specifically, insider Control Empresarial De Capital purchased 70,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 28,884,998 shares of the company’s stock, valued at $738,300,548.88. This represents a 0.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research firms have weighed in on PBF. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Morgan Stanley cut their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group reduced their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.45.

PBF Energy Trading Up 4.1 %

The firm has a 50-day moving average of $29.77 and a two-hundred day moving average of $34.30. The firm has a market capitalization of $3.06 billion, a P/E ratio of -10.28 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.65 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 for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.61 earnings per share. On average, analysts anticipate that PBF Energy Inc. will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 4.13%. PBF Energy’s dividend payout ratio is -42.47%.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently modified their holdings of the company. National Bank of Canada FI bought a new position in PBF Energy in the second quarter valued at about $26,000. Quarry LP bought a new position in PBF Energy in the 3rd quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in PBF Energy during the 3rd quarter worth approximately $59,000. Blue Trust Inc. grew its holdings in PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 573 shares during the period. Institutional investors and hedge funds 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.