PBF Energy (NYSE:PBF) Trading Up 3.2% Following Insider Buying Activity

PBF Energy Inc. (NYSE:PBF)’s stock price shot up 3.2% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $32.40 and last traded at $32.21. 751,006 shares traded hands during trading, a decline of 65% from the average session volume of 2,139,808 shares. The stock had previously closed at $31.21.

Specifically, insider Control Empresarial De Capital purchased 55,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $30.85 per share, for a total transaction of $1,696,750.00. Following the purchase, the insider now owns 23,462,398 shares of the company’s stock, valued at approximately $723,814,978.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PBF. Mizuho lowered their price objective on PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group lowered their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $40.00 in a research note on Wednesday. Finally, Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $25.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $43.45.

PBF Energy Stock Performance

The company has a market cap of $3.86 billion, a P/E ratio of 2.28 and a beta of 1.56. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $34.14 and its two-hundred day moving average is $44.18.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. Equities analysts predict that PBF Energy Inc. will post 0.35 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in PBF Energy by 94.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 313,091 shares of the oil and gas company’s stock worth $14,408,000 after acquiring an additional 152,091 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PBF Energy during the second quarter worth about $275,000. Sanctuary Advisors LLC purchased a new position in shares of PBF Energy in the second quarter worth about $1,176,000. Invst LLC raised its position in shares of PBF Energy by 6.2% in the second quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock valued at $770,000 after purchasing an additional 965 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of PBF Energy by 11.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock valued at $623,000 after buying an additional 1,436 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.