PBF Energy (NYSE:PBF) Hits New 12-Month High – What’s Next?

Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week high during trading on Tuesday . The company traded as high as $64.67 and last traded at $63.9740, with a volume of 2574897 shares traded. The stock had previously closed at $62.75.

Analysts Set New Price Targets

PBF has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Scotiabank lifted their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Mizuho upped their target price on PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Citigroup upped their target price on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Freedom Capital upgraded PBF Energy to a “hold” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $40.00.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The firm has a fifty day moving average of $44.92 and a 200 day moving average of $40.72. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period last year, the company posted ($3.53) earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post 9.76 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. PBF Energy’s dividend payout ratio (DPR) is 29.65%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 100,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $54.52, for a total value of $5,452,000.00. Following the completion of the sale, the insider owned 15,712,128 shares of the company’s stock, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 3,541,570 shares of company stock valued at $165,787,386. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new stake in PBF Energy in the 1st quarter worth about $33,000. Torren Management LLC purchased a new position in shares of PBF Energy in the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in PBF Energy in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.