PBF Energy Target of Unusually Large Options Trading (PBF)
PBF Energy Inc (NYSE:PBF) was the target of some unusual options trading on Tuesday. Investors bought 2,527 put options on the stock. This is an increase of approximately 650% compared to the average volume of 337 put options.
Several brokerages recently commented on PBF. ValuEngine lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Tudor Pickering lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. TheStreet lowered PBF Energy from a “b” rating to a “c+” rating in a research note on Friday, February 15th. Credit Suisse Group decreased their price target on PBF Energy from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, January 7th. Finally, Morgan Stanley upgraded PBF Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $50.00 to $48.00 in a research report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $49.56.
PBF stock opened at $31.59 on Wednesday. The firm has a market cap of $3.82 billion, a PE ratio of 9.69, a PEG ratio of 1.43 and a beta of 1.37. PBF Energy has a twelve month low of $28.66 and a twelve month high of $53.91. The company has a quick ratio of 0.64, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 28th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.80%. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.
In related news, CEO Thomas J. Nimbley purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $30.03 per share, with a total value of $750,750.00. Following the purchase, the chief executive officer now directly owns 365,990 shares in the company, valued at $10,990,679.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC grew its stake in shares of PBF Energy by 675.4% during the fourth quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 3,296 shares during the period. Great Lakes Advisors LLC acquired a new position in PBF Energy in the third quarter valued at about $221,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in PBF Energy by 53.5% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 1,670 shares during the period. Hilltop Holdings Inc. acquired a new position in PBF Energy in the third quarter valued at about $309,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in PBF Energy in the third quarter valued at about $317,000. 95.32% of the stock is owned by institutional investors and hedge funds.
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PBF Energy Company Profile
PBF Energy Inc, together with 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.
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