Shares of PBF Energy Inc. (NYSE:PBF – Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $77.06 and traded as high as $82.73. PBF Energy shares last traded at $80.4880, with a volume of 2,283,053 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on PBF shares. Freedom Capital lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Mizuho lifted their price objective on PBF Energy from $65.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. The Goldman Sachs Group boosted their target price on PBF Energy from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, October 9th. Finally, Morgan Stanley boosted their target price on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $66.18.
Get Our Latest Stock Report on PBF
PBF Energy Trading Up 5.7%
The business’s 50-day moving average price is $77.06 and its 200 day moving average price is $52.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 0.08 and a beta of 0.18.
PBF Energy (NYSE:PBF – Get Free Report) last released its quarterly 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. The business 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%. The business’s revenue was up 56.2% on a year-over-year basis. During the same period last year, the business earned ($1.03) EPS. On average, equities analysts forecast that PBF Energy Inc. will post 24.95 earnings per share for the current fiscal year.
PBF Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.2750 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. PBF Energy’s payout ratio is currently 9.73%.
Insider Buying and Selling
In related news, insider Control Empresarial De Capital sold 490,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the transaction, the insider owned 14,992,128 shares of the company’s stock, valued at approximately $1,068,339,041.28. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 value of $32,554,386.06. Following the sale, 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 have sold 4,146,374 shares of company stock worth $304,686,537. 5.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On PBF Energy
A number of institutional investors have recently made changes to their positions in PBF. Prime Capital Investment Advisors LLC boosted its position in PBF Energy by 3.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,826 shares of the oil and gas company’s stock valued at $371,000 after purchasing an additional 141 shares during the last quarter. Parallel Advisors LLC grew its stake in PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 242 shares in the last quarter. PNC Financial Services Group Inc. increased its position in PBF Energy by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 260 shares during the last quarter. Janney Montgomery Scott LLC increased its position in PBF Energy by 5.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after purchasing an additional 383 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in PBF Energy by 3.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company’s stock worth $682,000 after purchasing an additional 441 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.
About PBF Energy
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.
Read More
- Five stocks we like better than PBF Energy
- Comfort Systems Earnings: AI Slowdown or More Growth Ahead?
- Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock
- 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps
- Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.
