PBF Energy (NYSE:PBF) Stock Price Up 5% - Should You Buy?

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares shot up 5% on Monday . The company traded as high as $29.40 and last traded at $29.38. 218,445 shares changed hands during trading, a decline of 87% from the average session volume of 1,682,090 shares. The stock had previously closed at $27.98.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PBF. Scotiabank cut their target price on shares of PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Piper Sandler lowered shares of PBF Energy from a "neutral" rating to an "underweight" rating and cut their target price for the company from $47.00 to $25.00 in a research note on Friday, September 20th. BMO Capital Markets lowered shares of PBF Energy from an "outperform" rating to a "market perform" rating and cut their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. TD Cowen lowered shares of PBF Energy from a "hold" rating to a "sell" rating and cut their target price for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Finally, Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Seven analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, PBF Energy has an average rating of "Hold" and an average price target of $32.00.

PBF Energy Price Performance

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 capitalization of $3.38 billion, a PE ratio of -11.35 and a beta of 1.61. The firm's fifty day simple moving average is $29.12 and its 200-day simple moving average is $33.22.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the previous year, the firm earned $6.61 earnings per share. The firm's revenue for the quarter was down 21.9% on a year-over-year basis. On average, research analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.275 dividend. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy's dividend payout ratio is presently -42.47%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 70,000 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 3,369,600 shares of company stock worth $102,820,721 over the last three months. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Leavell Investment Management Inc. grew its position in PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company's stock valued at $488,000 after buying an additional 460 shares during the last quarter. Nisa Investment Advisors LLC grew its position in PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company's stock valued at $893,000 after buying an additional 485 shares during the last quarter. Verdence Capital Advisors LLC grew its position in PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company's stock valued at $400,000 after buying an additional 543 shares during the last quarter. National Bank of Canada FI purchased a new position in PBF Energy in the 2nd quarter valued at $26,000. Finally, Farther Finance Advisors LLC lifted its holdings in PBF Energy by 27.9% in the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock valued at $81,000 after acquiring an additional 573 shares during the period. Hedge funds and other 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.