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

PBF Energy Inc. (NYSE:PBF) shares rose 4.1% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $26.68 and last traded at $26.62. Approximately 340,226 shares changed hands during trading, a decline of 84% from the average daily 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 company’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the acquisition, the insider now directly owns 28,884,998 shares of the company’s stock, valued at approximately $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 link.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Morgan Stanley lowered their price target 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 reduced their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Finally, TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and cut their price target for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Seven research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.45.

PBF Energy Trading Up 4.1 %

The company’s fifty day simple moving average is $29.77 and its two-hundred day simple moving average is $34.30. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.28 and a beta of 1.57. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm posted $6.61 earnings per share. The business’s revenue was down 21.9% on a year-over-year basis. Research analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 4.13%. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI bought a new stake in PBF Energy in the 2nd quarter valued at $26,000. Quarry LP bought a new stake in shares of PBF Energy in the third quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy during the third quarter worth about $59,000. Blue Trust Inc. grew its holdings in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 573 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.