PBF Energy Inc. (NYSE:PBF) Sees Large Decline in Short Interest

PBF Energy Inc. (NYSE:PBF) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 15,290,981 shares, a decrease of 30.1% from the February 26th total of 21,889,010 shares. Based on an average daily volume of 5,113,613 shares, the short-interest ratio is currently 3.0 days. Approximately 14.0% of the company’s stock are short sold.

Key PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Q4 results and payout: PBF beat EPS expectations for the most recent quarter and recently paid a quarterly dividend ($0.275/share), supporting the bull case that improving refinery margins are underpinning recent gains. MarketBeat PBF Coverage
• Positive Sentiment: Institutional buying: Several large funds (Goldman Sachs, State Street, Invesco, AQR, T. Rowe) increased positions last quarter, signaling conviction from professional investors that the operating recovery may persist. MarketBeat PBF Coverage
• Positive Sentiment: Analyst moves: Some analysts raised targets (Goldman Sachs, Mizuho) citing margin improvement even as consensus remains mixed — this provides support for the stock amid momentum. MarketBeat PBF Coverage
• Neutral Sentiment: Valuation/momentum debate: Commentary asking whether PBF’s ~181% one?year rally leaves limited upside or whether momentum and margin recovery can continue is keeping sentiment mixed. That debate is likely to sustain higher intraday volatility. Is It Too Late To Consider PBF Energy (PBF)?
• Negative Sentiment: Large insider/major?holder liquidation: Control Empresarial De Capital sold 687,500 shares (~$34.0M at ~$49.49) — a sizable block that increases supply and can weigh on near?term price action. Control Empresarial De Capital Form 4
• Negative Sentiment: Follow?on selling by the same holder: Control Empresarial De Capital also sold an additional 469,700 shares (~$23.2M), reinforcing the pattern of significant insider/owner liquidity this week. Control Empresarial De Capital Form 4
• Negative Sentiment: Director sale: Director Thomas J. Nimbley sold 50,000 shares (~$2.57M), trimming his stake and adding to the week’s disclosures of insiders taking profits. Nimbley Ownership Filing
• Negative Sentiment: Senior exec sale: SVP Trecia M. Canty sold 62,999 shares (~$3.15M), a ~25% cut to her holding, further signaling insider monetization of recent gains. Trecia Canty SEC Filing

PBF Energy Price Performance

NYSE PBF traded up $0.82 on Friday, reaching $51.19. 3,167,726 shares of the stock traded hands, compared to its average volume of 4,718,961. PBF Energy has a 12 month low of $13.61 and a 12 month high of $51.80. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -34.82, a P/E/G ratio of 0.64 and a beta of 0.41. The firm’s fifty day simple moving average is $38.27 and its 200 day simple moving average is $33.91. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted ($2.82) earnings per share. As a group, research analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were given a $0.275 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

Analyst Upgrades and Downgrades

PBF has been the topic of several analyst reports. Piper Sandler increased their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Zacks Research upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research report on Monday, December 8th. BMO Capital Markets reiterated a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a research report on Monday, January 5th. Finally, Citigroup raised their target price on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $31.69.

Insider Buying and Selling at PBF Energy

In other news, Director Thomas J. Nimbley sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $51.36, for a total transaction of $2,568,000.00. Following the completion of the transaction, the director directly owned 790,716 shares in the company, valued at approximately $40,611,173.76. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Trecia M. Canty sold 62,999 shares of PBF Energy stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $3,149,950.00. Following the completion of the sale, the senior vice president owned 191,779 shares of the company’s stock, valued at approximately $9,588,950. This trade represents a 24.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,598,799 shares of company stock worth $406,300,229 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently made changes to their positions in PBF. Merit Financial Group LLC raised its stake in PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 276 shares during the period. Verdence Capital Advisors LLC raised its position in PBF Energy by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after buying an additional 348 shares during the period. Arizona State Retirement System grew its position in PBF Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock valued at $774,000 after purchasing an additional 353 shares in the last quarter. Next Level Private LLC grew its position in PBF Energy by 0.6% during the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after purchasing an additional 378 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds 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.