PBF Energy (NYSE:PBF) Trading 5% Higher – Time to Buy?

Shares of PBF Energy Inc. (NYSE:PBF) shot up 5% during mid-day trading on Monday . The stock traded as high as $29.40 and last traded at $29.38. 218,445 shares traded hands during trading, a decline of 87% from the average session volume of 1,682,090 shares. The stock had previously closed at $27.98.

Analyst Upgrades and Downgrades

PBF has been the topic of several recent research reports. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and dropped their price target for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. Finally, BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.00.

PBF Energy Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock has a market capitalization of $3.42 billion, a P/E ratio of -11.46 and a beta of 1.61. The firm has a fifty day moving average price of $29.15 and a two-hundred day moving average price of $32.99.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the business posted $6.61 earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. As a group, analysts expect that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 409,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the acquisition, the insider now directly owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased 2,369,600 shares of company stock worth $71,070,721 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after buying an additional 1,226,909 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares in the last quarter. Recurrent Investment Advisors LLC bought a new stake in shares of PBF Energy during the third quarter valued at approximately $11,516,000. Hsbc Holdings PLC raised its position in shares of PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after buying an additional 355,329 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of PBF Energy in the third quarter worth $10,506,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.