PBF Energy (NYSE:PBF) Shares Up 8% – Time to Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price was up 8% on Monday . The stock traded as high as $46.74 and last traded at $46.5680. Approximately 1,150,753 shares changed hands during trading, a decline of 66% from the average daily volume of 3,395,486 shares. The stock had previously closed at $43.11.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank upped their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley lifted their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Mizuho increased their price target on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $36.69.

PBF Energy Price Performance

The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $40.99 and a 200 day simple moving average of $37.82. The stock has a market capitalization of $5.57 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.14 and a beta of 0.12.

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 the consensus estimate 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 company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter last year, the company posted ($3.53) EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that PBF Energy Inc. will post 7.69 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the business’s 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 completion of the sale, the insider directly owned 18,117,698 shares of the company’s stock, valued at $782,141,022.66. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 1,663,085 shares of company stock valued at $76,012,206. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new position in PBF Energy during the fourth quarter valued at $30,000. Los Angeles Capital Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth about $31,000. Leonteq Securities AG bought a new stake in PBF Energy in the first quarter worth $33,000. Smartleaf Asset Management LLC raised its stake 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 valued at $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of PBF Energy in the 4th quarter valued at about $57,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.