PBF Energy (NYSE:PBF) Trading 8.3% Higher on Insider Buying Activity

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares were up 8.3% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $29.62 and last traded at $30.02. Approximately 481,339 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,011,880 shares. The stock had previously closed at $27.72.

Specifically, insider Control Empresarial De Capital acquired 46,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $29.70 per share, for a total transaction of $1,366,200.00. Following the purchase, the insider now directly owns 29,190,998 shares in the company, valued at $866,972,640.60. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Control Empresarial De Capital bought 60,000 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $29.29 per share, with a total value of $1,757,400.00. Following the transaction, the insider now directly owns 29,144,998 shares in the company, valued at approximately $853,656,991.42. The trade was a 0.21 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Several analysts recently weighed in on PBF shares. Bank of America initiated coverage on PBF Energy in a report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price objective for the company. TD Cowen downgraded shares of PBF Energy from a "hold" rating to a "sell" rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered shares of PBF Energy from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Scotiabank decreased their target price on PBF Energy from $45.00 to $31.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Finally, Mizuho cut PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

PBF Energy Stock Down 1.0 %

The stock's 50 day moving average is $28.74 and its 200 day moving average is $31.69. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -10.74 and a beta of 1.60.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its position in PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock worth $31,000 after buying an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new position in PBF Energy in the 3rd quarter worth approximately $59,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. raised its stake in PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company's stock valued at $68,000 after purchasing an additional 2,027 shares during the period. 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.