PBF Energy (NYSE:PBF) Trading Up 4.1% After Insider Buying Activity

PBF Energy Inc. (NYSE:PBF) rose 4.1% during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $26.68 and last traded at $26.62. Approximately 340,226 shares changed hands during 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 the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the transaction, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. The trade was a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Morgan Stanley reduced their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.45.

PBF Energy Price Performance

The business has a 50-day simple moving average of $29.52 and a 200 day simple moving average of $34.13. 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 stock has a market cap of $3.06 billion, a P/E ratio of -10.25 and a beta of 1.57.

PBF Energy (NYSE:PBF) last posted its 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). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business posted $6.61 earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. On average, analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 4.14%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Leavell Investment Management Inc. boosted its holdings in shares of PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 460 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of PBF Energy by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after buying an additional 485 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 543 shares during the period. National Bank of Canada FI purchased a new position in PBF Energy in the second quarter valued at $26,000. Finally, Farther Finance Advisors LLC increased its stake in shares of PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 573 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.