PBF Energy (NYSE:PBF) Stock Price Up 6.1% – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares traded up 6.1% during trading on Friday . The company traded as high as $35.33 and last traded at $35.0220. 269,181 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 4,194,595 shares. The stock had previously closed at $33.00.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research cut PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Citigroup increased their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wolfe Research lowered shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research note on Monday, December 8th. Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $38.00 in a research report on Friday, December 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $30.14.

PBF Energy Stock Up 1.0%

The stock’s fifty day simple moving average is $31.17 and its 200-day simple moving average is $29.39. The stock has a market cap of $3.86 billion, a P/E ratio of -7.18, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion during 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 revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.50) earnings per share. As a group, research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.3%. PBF Energy’s dividend payout ratio is -23.66%.

Insider Activity at PBF Energy

In related news, SVP Paul T. Davis sold 50,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This represents a 20.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Steven John Andriola sold 2,579 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $26.19, for a total value of $67,544.01. Following the transaction, the chief accounting officer owned 17,414 shares in the company, valued at approximately $456,072.66. This trade represents a 12.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 845,624 shares of company stock worth $29,349,545 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 589 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 440 shares during the period. Hantz Financial Services Inc. grew its position in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 912 shares in the last quarter. Quent Capital LLC bought a new position in shares of PBF Energy in the third quarter worth $41,000. Finally, UMB Bank n.a. raised its position in shares of PBF Energy by 67.2% in the second quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock worth $43,000 after buying an additional 801 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

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.