PBF Energy (NYSE:PBF) Shares Up 8.3% After Insider Buying Activity

PBF Energy Inc. (NYSE:PBF)’s stock price was up 8.3% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $29.62 and last traded at $30.02. Approximately 481,339 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,011,880 shares. The stock had previously closed at $27.72.

Specifically, insider Control Empresarial De Capital purchased 46,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $29.70 per share, with a total value of $1,366,200.00. Following the purchase, the insider now directly owns 29,190,998 shares of the company’s stock, valued at $866,972,640.60. This trade represents a 0.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Control Empresarial De Capital acquired 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average price of $29.29 per share, with a total value of $1,757,400.00. Following the completion of the acquisition, the insider now owns 29,144,998 shares of the company’s stock, valued at $853,656,991.42. This represents a 0.21 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Bank of America began coverage on PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price target for the company. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and dropped their price target for the company from $27.00 to $20.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $39.00 to $34.00 in a research report on Monday, December 9th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.00.

PBF Energy Trading Up 8.1 %

The firm has a 50 day moving average of $28.86 and a 200-day moving average of $31.79. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.45 billion, a P/E ratio of -11.67 and a beta of 1.60.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP acquired a new stake in PBF Energy in the third quarter valued at approximately $48,000. Harbor Capital Advisors Inc. bought a new stake in shares of PBF Energy during the third quarter worth $59,000. Blue Trust Inc. increased its holdings in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of PBF Energy in the 4th quarter valued at $61,000. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.