PBF Energy (NYSE:PBF) Hits New 1-Year High – Still a Buy?

Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.48 and last traded at $40.20, with a volume of 2748742 shares trading hands. The stock had previously closed at $39.82.

Wall Street Analyst Weigh In

Several research firms have weighed in on PBF. Wall Street Zen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of PBF Energy in a research note on Wednesday, October 8th. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. Bank of America upped their price target on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Finally, Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, PBF Energy has an average rating of “Strong Sell” and an average price target of $27.83.

PBF Energy Price Performance

The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average price is $31.30 and its 200 day moving average price is $25.55. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -8.47 and a beta of 0.79.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period in the previous year, the company posted ($1.50) earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s payout ratio is -23.66%.

Insider Activity

In other PBF Energy news, SVP Connor Thomas L. O sold 30,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the senior vice president owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total value of $1,822,000.00. Following the sale, the senior vice president owned 200,744 shares in the company, valued at $7,315,111.36. The trade was a 19.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 381,048 shares of company stock worth $13,212,041 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Several hedge funds have recently modified their holdings of PBF. Smartleaf Asset Management LLC raised its position in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares during the period. Hantz Financial Services Inc. raised its stake in shares of PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after buying an additional 912 shares during the last quarter. Quent Capital LLC bought a new position in PBF Energy in the third quarter valued at approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,248 shares during the period. 96.29% of the stock is 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.