Shares of PBF Energy Inc. (NYSE:PBF – Get Free Report) rose 4.1% during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $26.68 and last traded at $26.62. Approximately 340,226 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,160,078 shares. The stock had previously closed at $25.57.
Specifically, insider Control Empresarial De Capital bought 70,000 shares of PBF Energy stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the acquisition, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Analysts Set New Price Targets
PBF has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Bank of America initiated coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price target for the company. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Seven analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average target price of $32.45.
PBF Energy Stock Performance
The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.06 billion, a PE ratio of -10.25 and a beta of 1.57. The firm’s 50-day simple moving average is $29.64 and its 200-day simple moving average is $34.18.
PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s quarterly revenue was down 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.61 EPS. On average, research analysts predict that PBF Energy Inc. will post -2.87 earnings per share for the current year.
PBF Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 4.14%. PBF Energy’s payout ratio is currently -42.47%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of PBF Energy by 391.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after buying an additional 1,226,909 shares during the last quarter. BNP Paribas Financial Markets grew its stake in PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after purchasing an additional 492,053 shares during the last quarter. Recurrent Investment Advisors LLC acquired a new position in shares of PBF Energy in the third quarter valued at about $11,516,000. Hsbc Holdings PLC increased its holdings in shares of PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after purchasing an additional 355,329 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of PBF Energy by 32.9% in the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.
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