PBF Energy (NYSE:PBF) Stock Price Up 7.4% – Time to Buy?

Shares of PBF Energy Inc. (NYSE:PBF) rose 7.4% on Wednesday . The stock traded as high as $43.38 and last traded at $43.33. Approximately 703,566 shares changed hands during trading, a decline of 80% from the average daily volume of 3,461,850 shares. The stock had previously closed at $40.36.

Analysts Set New Price Targets

Several analysts have recently issued reports on PBF shares. Wall Street Zen cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Scotiabank increased their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. Piper Sandler raised their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Mizuho raised their target price on shares of PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and an average price target of $36.15.

PBF Energy Stock Up 6.9%

The business’s fifty day moving average price is $41.96 and its 200 day moving average price is $37.25. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.16 and a beta of 0.12. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same period in the prior year, the firm posted ($3.53) earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. PBF Energy’s payout ratio is currently 29.65%.

Insider Activity

In related news, Director Thomas J. Nimbley sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the sale, the director directly owned 790,716 shares in the company, valued at $40,026,043.92. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital sold 100,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $43.17, for a total value of $4,317,000.00. Following the sale, the insider directly owned 18,117,698 shares in the company, valued at approximately $782,141,022.66. The trade was a 0.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,582,425 shares of company stock worth $358,083,629 over the last quarter. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the period. Bull Harbor Capital LLC acquired a new position in shares of PBF Energy in the 1st quarter valued at about $212,000. Amundi acquired a new position in shares of PBF Energy in the 1st quarter valued at about $1,574,000. EverSource Wealth Advisors LLC lifted its stake in shares of PBF Energy by 24.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 931 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of PBF Energy by 23.6% in the 1st quarter. California State Teachers Retirement System now owns 101,282 shares of the oil and gas company’s stock valued at $4,823,000 after purchasing an additional 19,354 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.