PBF Energy (NYSE:PBF) Stock Price Up 6.2% – Should You Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price was up 6.2% during mid-day trading on Wednesday . The company traded as high as $68.89 and last traded at $70.6350. 627,381 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,317,398 shares. The stock had previously closed at $66.51.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Evercore began coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of PBF Energy from $71.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Morgan Stanley increased their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. Finally, Mizuho upped their target price on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $50.92.

PBF Energy Stock Up 6.3%

The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 6.27, a P/E/G ratio of 0.08 and a beta of 0.10. The stock has a fifty day moving average price of $58.69 and a two-hundred day moving average price of $47.35.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm 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 company posted ($1.03) EPS. The company’s revenue was up 56.2% compared to the same quarter last year. As a group, sell-side analysts expect that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the transaction, the insider owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Nimbley sold 468,139 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,163,674 shares of company stock valued at $371,707,094. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of PBF Energy during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the fourth quarter worth $31,000. Leonteq Securities AG acquired a new stake in PBF Energy in the first quarter worth $33,000. Smartleaf Asset Management LLC increased its stake in PBF Energy by 65.3% in 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 purchasing an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of PBF Energy during the fourth quarter valued at about $57,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.