PBF Energy (NYSE:PBF) Stock Jumps 5.3% – Should You Buy?

PBF Energy Inc. (NYSE:PBF)’s share price was up 5.3% during mid-day trading on Tuesday. The company traded as high as $89.26 and last traded at $89.53. Approximately 747,619 shares changed hands during trading, a decline of 78% from the average session volume of 3,351,368 shares. The stock had previously closed at $85.02.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PBF shares. Evercore initiated coverage on PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target on the stock. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. TD Cowen reaffirmed a “hold” rating on shares of PBF Energy in a research note on Thursday, October 1st. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $99.00 price objective on shares of PBF Energy in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $65.55.

PBF Energy Stock Up 6.2%

The stock has a market capitalization of $10.70 billion, a PE ratio of 7.99, a PEG ratio of 0.06 and a beta of 0.18. 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 business has a 50 day moving average of $74.08 and a two-hundred day moving average of $56.25.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.03) earnings per share. Analysts predict that PBF Energy Inc. will post 24.69 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.2750 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.2%. PBF Energy’s dividend payout ratio is presently 9.73%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 490,000 shares of PBF Energy stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the sale, the insider owned 14,992,128 shares of the company’s stock, valued at $1,068,339,041.28. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew C. Lucey sold 225,473 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,196,374 shares of company stock worth $303,792,637 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of PBF. Dimensional Fund Advisors LP grew its holdings in shares of PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after buying an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership increased its position in PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after acquiring an additional 1,137,533 shares during the period. Sei Investments Co. grew its stake in PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after purchasing an additional 106,819 shares during the period. Empowered Funds LLC raised its holdings in shares of PBF Energy by 198.0% in the 1st quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after acquiring an additional 236,418 shares during the last quarter. Finally, Aventail Capital Group LP increased its position in shares of PBF Energy by 27.7% during the 4th quarter. Aventail Capital Group LP now owns 255,742 shares of the oil and gas company’s stock valued at $6,936,000 after purchasing an additional 55,417 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.