PBF Energy Inc. (NYSE:PBF – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 6,822 put options on the company. This is an increase of 36% compared to the average daily volume of 5,003 put options.
Analyst Upgrades and Downgrades
Several research firms have issued reports on PBF. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Citigroup upped their target price on shares of PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Evercore started coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 target price on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of PBF Energy in a research note on Thursday, October 1st. Finally, TD Cowen reaffirmed a “hold” rating on shares of PBF Energy in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.55.
Read Our Latest Stock Report on PBF
PBF Energy Stock Up 0.2%
Shares of NYSE:PBF traded up $0.19 during trading on Wednesday, reaching $83.19. The stock had a trading volume of 491,000 shares, compared to its average volume of 3,340,736. The firm’s 50-day simple moving average is $76.71 and its 200 day simple moving average is $57.81. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. PBF Energy has a one year low of $25.62 and a one year high of $92.46. The company has a market capitalization of $9.86 billion, a P/E ratio of 7.34, a PEG ratio of 0.06 and a beta of 0.18.
PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. PBF Energy’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.03) EPS. As a group, research analysts expect that PBF Energy will post 24.69 EPS for the current fiscal year.
PBF Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is 9.73%.
Insiders Place Their Bets
In related news, Director Thomas J. Nimbley sold 116,008 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total value of $8,553,269.84. Following the transaction, the director owned 793,737 shares of the company’s stock, valued at $58,522,229.01. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Control Empresarial De Capital sold 170,000 shares of the firm’s 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 completion of the transaction, the insider directly owned 13,326,127 shares in the company, valued at $1,173,098,959.81. This represents a 1.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,146,374 shares of company stock valued at $304,686,537 over the last three months. Insiders own 5.50% of the company’s stock.
Hedge Funds Weigh In On PBF Energy
Institutional investors and hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP increased its position in shares of PBF Energy by 90.4% during the second quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock worth $2,887,000 after purchasing an additional 30,117 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after purchasing an additional 30,430 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of PBF Energy by 2,197.1% in the 1st quarter. Fifth Third Bancorp now owns 32,114 shares of the oil and gas company’s stock worth $1,529,000 after purchasing an additional 30,716 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $153,452,000 after purchasing an additional 1,137,533 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in PBF Energy during the 1st quarter worth $2,965,000. 96.29% of the stock is owned by hedge funds and other institutional investors.
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.
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