PBF Energy (NYSE:PBF) Sets New 52-Week High – Here’s What Happened

PBF Energy Inc. (NYSE:PBF) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $41.48 and last traded at $40.20, with a volume of 2748742 shares. The stock had previously closed at $39.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PBF shares. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 target price for the company. in a research note on Monday, September 15th. TD Cowen lifted their target price on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Friday, October 31st. UBS Group upped their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group boosted their price objective on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Citigroup raised their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of “Strong Sell” and a consensus price target of $27.83.

PBF Energy Stock Performance

The stock’s 50 day moving average price is $31.30 and its 200 day moving average price is $25.55. The company has a market cap of $4.56 billion, a price-to-earnings ratio of -8.47 and a beta of 0.79. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter last year, the firm posted ($1.50) earnings per share. PBF Energy’s revenue was down 8.7% on a year-over-year basis. On average, analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is -23.66%.

Insider Buying and Selling

In other news, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the sale, the senior vice president directly owned 200,744 shares in the company, valued at approximately $7,315,111.36. This represents a 19.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the senior vice president owned 207,984 shares of the company’s stock, valued at $7,071,456. This represents a 12.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 381,048 shares of company stock valued at $13,212,041. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of PBF. Bank of New York Mellon Corp boosted its stake in PBF Energy by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after buying an additional 260,464 shares in the last quarter. M&T Bank Corp acquired a new position in shares of PBF Energy in the 1st quarter worth approximately $300,000. Intech Investment Management LLC raised its holdings in shares of PBF Energy by 27.3% in the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock worth $2,279,000 after purchasing an additional 25,616 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in PBF Energy during the second quarter valued at approximately $448,000. Finally, VR Advisory Services Ltd boosted its holdings in PBF Energy by 241.9% during the first quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company’s stock worth $3,263,000 after buying an additional 120,945 shares in the last quarter. 96.29% of the stock is currently owned by 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.