PBF Energy (NYSE:PBF) Shares Gap Up – Time to Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $35.60, but opened at $38.00. PBF Energy shares last traded at $37.1170, with a volume of 565,338 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Piper Sandler upped their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. UBS Group lifted their price target on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a research note on Monday, December 8th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $30.21.

PBF Energy Trading Up 4.6%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The firm has a 50-day moving average of $31.84 and a 200-day moving average of $31.27. The firm has a market capitalization of $4.35 billion, a P/E ratio of -25.32, a price-to-earnings-growth ratio of 4.78 and a beta of 0.50.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. PBF Energy’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted ($2.82) EPS. On average, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. PBF Energy’s payout ratio is presently -74.83%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 250,000 shares of PBF Energy stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $34.91, for a total transaction of $8,727,500.00. Following the transaction, the insider directly owned 27,591,198 shares in the company, valued at approximately $963,208,722.18. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 2,635,879 shares of company stock valued at $91,446,680. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the last quarter. Torren Management LLC bought a new position in shares of PBF Energy during the 4th quarter worth approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators increased its stake in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 440 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 912 shares during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.