Stock Traders Buy Large Volume of PBF Energy Put Options (PBF)

PBF Energy Inc. (NYSE:PBF) was the target of some unusual options trading activity on Tuesday. Stock traders bought 8,609 put options on the stock. This represents an increase of approximately 1,397% compared to the typical volume of 575 put options.

PBF Energy (NYSE PBF) traded up 0.44% during mid-day trading on Friday, reaching $24.83. 4,043,095 shares of the company were exchanged. The stock has a 50-day moving average of $22.73 and a 200 day moving average of $21.97. The firm’s market capitalization is $2.72 billion. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.76 billion. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. During the same quarter in the previous year, the company earned $0.14 earnings per share. Equities research analysts forecast that PBF Energy will post $0.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 4.83%. PBF Energy’s dividend payout ratio (DPR) is presently -363.64%.

Several equities analysts have commented on the stock. Tudor Pickering upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Credit Suisse Group downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Tuesday, June 20th. Finally, Citigroup Inc. reduced their price target on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.00.

Hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its position in PBF Energy by 167.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock worth $1,673,000 after acquiring an additional 47,041 shares during the period. UBS Group AG boosted its position in PBF Energy by 4.6% during the 1st quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock worth $1,877,000 after acquiring an additional 3,706 shares during the period. Cadence Capital Management LLC boosted its position in PBF Energy by 30.4% during the 2nd quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock worth $576,000 after acquiring an additional 6,025 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in PBF Energy by 50.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 1,580 shares during the period. Finally, Arizona State Retirement System acquired a new position in PBF Energy during the 2nd quarter worth $1,030,000.

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About PBF Energy

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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