PBF Energy (NYSE:PBF) Hits New 1-Year High – Should You Buy?

PBF Energy Inc. (NYSE:PBF) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $75.20 and last traded at $74.6170, with a volume of 432864 shares. The stock had previously closed at $71.85.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore started coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 price objective on the stock. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Scotiabank upped their price target on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group upped their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $50.15.

PBF Energy Stock Performance

The business has a fifty day moving average of $54.37 and a 200-day moving average of $45.46. The company has a market cap of $8.91 billion, a PE ratio of 6.66, a P/E/G ratio of 0.08 and a beta of 0.10. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period last year, the company posted ($1.03) EPS. Equities research analysts anticipate that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. PBF Energy’s payout ratio is presently 9.73%.

Insiders Place Their Bets

In other news, SVP Trecia M. Canty sold 140,320 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $71.00, for a total transaction of $9,962,720.00. Following the completion of the transaction, the senior vice president directly owned 191,779 shares in the company, valued at $13,616,309. This trade represents a 42.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $70.13, for a total value of $10,519,500.00. Following the transaction, the insider owned 14,621,753 shares of the company’s stock, valued at $1,025,423,537.89. The trade was a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,099,021 shares of company stock valued at $293,359,045. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently bought and sold shares of the company. Torren Management LLC bought a new stake in PBF Energy during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy during the fourth quarter valued at approximately $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy during the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $57,000. Institutional investors own 96.29% of the company’s stock.

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.