PBF Energy (NYSE:PBF) Stock Price Up 7.2% – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares rose 7.2% on Monday. The stock traded as high as $81.07 and last traded at $81.65. Approximately 333,941 shares were traded during trading, a decline of 90% from the average session volume of 3,327,976 shares. The stock had previously closed at $76.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PBF shares. UBS Group reiterated a “buy” rating and set a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. Morgan Stanley boosted their price target on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday, September 14th. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.18.

PBF Energy Price Performance

The firm has a market capitalization of $9.58 billion, a PE ratio of 7.17, a P/E/G ratio of 0.08 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company has a 50-day moving average price of $77.11 and a 200-day moving average price of $58.51.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period last year, the company earned ($1.03) EPS. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. Sell-side analysts forecast that PBF Energy Inc. will post 24.95 EPS for the current year.

PBF Energy Dividend Announcement

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after acquiring an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after purchasing an additional 1,137,533 shares during the period. Sei Investments Co. increased its position in PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after purchasing an additional 106,819 shares during the last quarter. Empowered Funds LLC increased its position in PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after purchasing an additional 236,418 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in PBF Energy by 361.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock worth $8,718,000 after purchasing an additional 148,124 shares during the last quarter. Institutional investors and hedge funds 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.