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

PBF Energy Inc. (NYSE:PBF) traded up 3.2% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $32.40 and last traded at $32.21. 751,006 shares changed 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 acquired 55,000 shares of the stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $30.85 per share, with a total value of $1,696,750.00. Following the completion of the purchase, the insider now directly owns 23,462,398 shares of the company’s stock, valued at $723,814,978.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PBF shares. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Morgan Stanley reduced their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. Mizuho cut their target price on PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Scotiabank decreased their price target on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average target price of $43.45.

PBF Energy Stock Performance

The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 2.28 and a beta of 1.56. The company has a 50 day simple moving average of $34.14 and a 200-day simple moving average of $44.18. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) 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 analyst estimates 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 quarter in the previous year, the firm earned $2.29 EPS. As a group, equities research analysts expect that PBF Energy Inc. will post 0.35 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Institutional Trading of PBF Energy

Large investors have recently made changes to their positions in the company. Hennessy Advisors Inc. boosted its holdings in PBF Energy by 18.4% in the first quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock worth $33,329,000 after acquiring an additional 89,900 shares in the last quarter. Van ECK Associates Corp grew its position in PBF Energy by 763.4% in the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares during the period. Acadian Asset Management LLC grew its position in PBF Energy by 4.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares during the period. Magnetar Financial LLC bought a new stake in PBF Energy during the 1st quarter valued at $1,394,000. Finally, Inspire Investing LLC acquired a new position in PBF Energy during the first quarter worth $905,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.