PBF Energy (NYSE:PBF) Shares Break Above 50-Day Moving Average – Should You Sell?

PBF Energy Inc. (NYSE:PBF) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $77.06 and traded as high as $82.73. PBF Energy shares last traded at $80.4880, with a volume of 2,283,053 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on PBF. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Citigroup boosted their target price on shares of PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Finally, UBS Group restated a “buy” rating and set a $99.00 price target on shares of PBF Energy in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.18.

PBF Energy Price Performance

The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $77.06 and a 200-day simple moving average of $52.36. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 7.12, a price-to-earnings-growth ratio of 0.08 and a beta of 0.18.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The company had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the company earned ($1.03) earnings per share. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post 24.95 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.2750 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. PBF Energy’s payout ratio is 9.73%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 490,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the transaction, the insider directly owned 14,992,128 shares in the company, valued at $1,068,339,041.28. This represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Lucey sold 225,473 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the transaction, the chief executive officer owned 495,771 shares of the company’s stock, valued at approximately $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,146,374 shares of company stock valued at $304,686,537. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PBF. SYM FINANCIAL Corp acquired a new position in shares of PBF Energy during the third quarter valued at about $275,000. Apollon Wealth Management LLC bought a new stake in shares of PBF Energy in the third quarter valued at about $332,000. Signaturefd LLC grew its position in PBF Energy by 7.2% during the third quarter. Signaturefd LLC now owns 9,797 shares of the oil and gas company’s stock worth $754,000 after buying an additional 661 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in PBF Energy by 63.5% during the third quarter. Citizens Financial Group Inc. RI now owns 10,042 shares of the oil and gas company’s stock worth $773,000 after buying an additional 3,901 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in PBF Energy during the third quarter worth about $44,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.