PBF Energy Inc. (NYSE:PBF) Sees Large Growth in Short Interest

PBF Energy Inc. (NYSE:PBF) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 21,889,010 shares, a growth of 16.1% from the February 12th total of 18,855,072 shares. Based on an average trading volume of 2,668,846 shares, the days-to-cover ratio is presently 8.2 days. Currently, 20.1% of the shares of the stock are sold short. Currently, 20.1% of the shares of the stock are sold short. Based on an average trading volume of 2,668,846 shares, the days-to-cover ratio is presently 8.2 days.

Analyst Ratings Changes

PBF has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Citigroup lifted their price objective on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler boosted their price objective on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. The Goldman Sachs Group increased their target price on PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, PBF Energy currently has an average rating of “Reduce” and a consensus target price of $31.69.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 380,000 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $43.30, for a total transaction of $16,454,000.00. Following the transaction, the insider directly owned 24,746,098 shares of the company’s stock, valued at $1,071,506,043.40. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at approximately $31,683,990.12. This trade represents a 20.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,717,979 shares of company stock valued at $222,327,012. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC lifted its position in PBF Energy by 3.0% during the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after buying an additional 276 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in PBF Energy by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after buying an additional 348 shares in the last quarter. Arizona State Retirement System grew its holdings in PBF Energy by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock valued at $774,000 after buying an additional 353 shares in the last quarter. Next Level Private LLC increased its stake in shares of PBF Energy by 0.6% in the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after acquiring an additional 378 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE PBF opened at $44.51 on Wednesday. The firm has a 50-day simple moving average of $35.50 and a 200-day simple moving average of $32.76. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of -30.28, a price-to-earnings-growth ratio of 4.64 and a beta of 0.41. PBF Energy has a 52 week low of $13.61 and a 52 week high of $47.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the business posted ($2.82) earnings per share. PBF Energy’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s payout ratio is currently -74.83%.

PBF Energy Company Profile

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.