PBF Energy (NYSE:PBF) Trading Up 3.8% – Should You Buy?

Shares of PBF Energy Inc. (NYSE:PBF) rose 3.8% during mid-day trading on Tuesday . The company traded as high as $73.05 and last traded at $73.0440. Approximately 1,789,113 shares changed hands during trading, a decline of 46% from the average daily volume of 3,303,331 shares. The stock had previously closed at $70.40.

Analyst Ratings Changes

Several equities research analysts recently commented on PBF shares. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research report on Friday, August 7th. UBS Group lifted their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Morgan Stanley boosted their target price on shares of PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday. Freedom Capital cut PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group lifted their price target on PBF Energy from $71.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.55.

PBF Energy Stock Up 1.7%

The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.01 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.06 and a beta of 0.09. The business’s 50-day moving average price is $68.33 and its 200-day moving average price is $51.81.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm posted ($1.03) earnings per share. The firm’s revenue was up 56.2% on a year-over-year basis. As a group, equities research analysts predict that PBF Energy Inc. will post 21.64 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Nimbley sold 468,139 shares of PBF Energy stock in a transaction 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 directly owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 6,381,944 shares of company stock valued at $401,075,033. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in PBF Energy during the first quarter valued at approximately $33,000. Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy in the fourth quarter worth approximately $57,000. Global Retirement Partners LLC increased its stake in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 2,147 shares during the last quarter. IFP Advisors Inc increased its stake in shares of PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 591 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of PBF Energy during the 1st quarter valued at $143,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.