PBF Energy (NYSE:PBF) Trading Up 7.9% – Should You Buy?

Shares of PBF Energy Inc. (NYSE:PBF) were up 7.9% during trading on Monday . The stock traded as high as $66.71 and last traded at $66.5610. 2,017,320 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 3,376,869 shares. The stock had previously closed at $61.71.

Analyst Upgrades and Downgrades

PBF has been the subject of several analyst reports. Scotiabank lifted their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. TD Cowen increased their target price on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Citigroup raised their target price on shares of PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Morgan Stanley lifted their price target on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, June 12th. Finally, Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, PBF Energy presently has an average rating of “Reduce” and an average target price of $50.15.

PBF Energy Price Performance

The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.07 and a beta of 0.10. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $51.60 and its 200-day moving average is $44.13.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the business posted ($1.03) EPS. The company’s revenue was up 56.2% compared to the same quarter last year. Equities research analysts predict that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is presently 9.73%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew C. Lucey sold 225,473 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the sale, the chief executive officer owned 495,771 shares in the company, valued at $35,655,850.32. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,260,935 shares of company stock worth $235,363,946 in the last three months. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in shares of PBF Energy by 81.7% during the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after buying an additional 30,430 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the period. Brandywine Global Investment Management LLC lifted its position in shares of PBF Energy by 351.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company’s stock valued at $7,200,000 after acquiring an additional 206,666 shares during the period. State of New Jersey Common Pension Fund D bought a new position in PBF Energy during the fourth quarter worth $1,485,000. Finally, Jefferies Financial Group Inc. grew its holdings in PBF Energy by 7,210.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock worth $17,037,000 after purchasing an additional 619,622 shares during the period. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

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.