PBF Energy (NYSE:PBF) Shares Climb 7.2% – What’s Next?

PBF Energy Inc. (NYSE:PBF) was up 7.2% during mid-day trading on Monday. The stock traded as high as $81.07 and last traded at $81.65. Approximately 333,941 shares traded hands during trading, a decline of 90% from the average session volume of 3,327,976 shares. The stock had previously closed at $76.17.

Analysts Set New Price Targets

A number of analysts have recently commented on PBF shares. Morgan Stanley upped their price objective on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, September 14th. Citigroup lifted their target price on PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Weiss Ratings raised PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.18.

PBF Energy Stock Performance

The stock has a fifty day simple moving average of $77.11 and a two-hundred day simple moving average of $58.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The stock has a market cap of $9.58 billion, a PE ratio of 7.17, a PEG ratio of 0.08 and a beta of 0.18.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the firm earned ($1.03) earnings per share. The business’s quarterly revenue was up 56.2% compared to the same quarter last year. Equities analysts anticipate that PBF Energy Inc. will post 24.95 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.2750 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Insider Activity

In other news, insider Control Empresarial De Capital sold 170,000 shares of PBF Energy stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $88.03, for a total transaction of $14,965,100.00. Following the sale, the insider directly owned 13,326,127 shares of the company’s stock, valued at approximately $1,173,098,959.81. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Nimbley sold 116,008 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director owned 793,737 shares in the company, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,146,374 shares of company stock valued at $304,686,537 over the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Apollon Wealth Management LLC purchased a new stake in PBF Energy during the 3rd quarter worth approximately $332,000. Signaturefd LLC raised its position in shares of PBF Energy by 7.2% in the 3rd quarter. Signaturefd LLC now owns 9,797 shares of the oil and gas company’s stock valued at $754,000 after purchasing an additional 661 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of PBF Energy by 63.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 10,042 shares of the oil and gas company’s stock valued at $773,000 after purchasing an additional 3,901 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of PBF Energy during the 3rd quarter valued at approximately $44,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of PBF Energy during the 3rd quarter valued at approximately $265,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.