PBF Energy (NYSE:PBF) Trading Up 4.1% – Should You Buy?

PBF Energy Inc. (NYSE:PBF)’s share price shot up 4.1% during trading on Wednesday . The company traded as high as $27.24 and last traded at $27.1080. 1,533,103 shares were traded during mid-day trading, a decline of 51% from the average session volume of 3,111,871 shares. The stock had previously closed at $26.04.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a report on Wednesday, September 3rd. Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research report on Monday, September 15th. Finally, Piper Sandler increased their price target on shares of PBF Energy from $29.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $29.38.

PBF Energy Stock Performance

The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -5.86 and a beta of 0.42. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $32.85 and a 200 day moving average of $28.56.

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

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a $0.275 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.1%. PBF Energy’s payout ratio is presently -23.66%.

Insider Buying and Selling at PBF Energy

In related news, SVP Trecia M. Canty sold 50,000 shares of the firm’s 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 completion of the transaction, the senior vice president owned 200,744 shares of the company’s stock, valued at $7,315,111.36. This trade represents a 19.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $40.83, for a total transaction of $2,041,500.00. Following the completion of the transaction, the senior vice president owned 205,340 shares in the company, valued at approximately $8,384,032.20. The trade was a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 429,624 shares of company stock worth $15,534,465. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently added to or reduced their stakes in PBF. Merit Financial Group LLC grew its holdings in PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 276 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in PBF Energy by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after acquiring an additional 348 shares during the last quarter. Arizona State Retirement System lifted its stake in PBF Energy by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after purchasing an additional 353 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PBF Energy by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.