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

Shares of PBF Energy Inc. (NYSE:PBF) traded up 4.1% during trading on Tuesday following insider buying activity. The stock traded as high as $26.68 and last traded at $26.62. 340,226 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,160,078 shares. The stock had previously closed at $25.57.

Specifically, insider Control Empresarial De Capital purchased 70,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the acquisition, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. This trade represents a 0.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

PBF has been the topic of several analyst reports. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Bank of America started coverage on shares of PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. Seven investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.45.

PBF Energy Stock Performance

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 company has a market cap of $3.06 billion, a PE ratio of -10.25 and a beta of 1.57. The firm’s 50-day simple moving average is $29.52 and its two-hundred day simple moving average is $34.13.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm’s revenue was down 21.9% on a year-over-year basis. During the same period last year, the company earned $6.61 earnings per share. As a group, research analysts anticipate that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Leavell Investment Management Inc. raised its holdings in shares of PBF Energy by 3.0% during the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 460 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in PBF Energy by 1.7% in 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 acquiring an additional 485 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in 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 worth $400,000 after purchasing an additional 543 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of PBF Energy during the 2nd quarter worth approximately $26,000. Finally, Farther Finance Advisors LLC grew its position in shares of PBF Energy by 27.9% in the third 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 owned by institutional investors and hedge funds.

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.