PBF Energy (NYSE:PBF) Stock Jumps 6.4% – Time to Buy?

PBF Energy Inc. (NYSE:PBF)’s share price traded up 6.4% on Wednesday. The company traded as high as $79.89 and last traded at $80.0530. Approximately 1,552,868 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 3,372,769 shares. The stock had previously closed at $75.23.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. UBS Group boosted their price target on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. BMO Capital Markets reiterated a “market perform” rating on shares of PBF Energy in a research report on Thursday. Morgan Stanley lifted their price target on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday, September 14th. Finally, Mizuho upped their price target on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, PBF Energy has an average rating of “Hold” and an average target price of $59.55.

PBF Energy Trading Up 6.9%

The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. The business has a 50 day moving average of $71.53 and a 200 day moving average of $54.40. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.03) EPS. On average, research analysts forecast that PBF Energy Inc. will post 22.61 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.2750 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 150,000 shares of PBF Energy stock in a transaction on Friday, September 11th. The stock was sold at an average price of $80.60, for a total value of $12,090,000.00. Following the completion of the sale, the insider owned 13,716,127 shares of the company’s stock, valued at $1,105,519,836.20. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Trecia Canty sold 75,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $74.10, for a total value of $5,557,500.00. Following the completion of the transaction, the senior vice president owned 191,779 shares of the company’s stock, valued at $14,210,823.90. The trade was a 28.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,926,374 shares of company stock worth $335,005,837 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy in the 4th quarter valued at about $34,243,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares during the period. Finally, Empowered Funds LLC increased its position in PBF Energy by 198.0% during the 1st quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after purchasing an additional 236,418 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.