PBF Energy (NYSE:PBF) Trading Up 5.4% - Still a Buy?

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares shot up 5.4% during mid-day trading on Thursday . The company traded as high as $20.86 and last traded at $21.15. 1,438,953 shares were traded during trading, a decline of 31% from the average session volume of 2,088,726 shares. The stock had previously closed at $20.06.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PBF. The Goldman Sachs Group reduced their target price on PBF Energy from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Piper Sandler lowered their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday. TD Cowen lowered shares of PBF Energy from a "hold" rating to a "sell" rating and dropped their price target for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on PBF Energy from $34.00 to $25.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.36.

PBF Energy Trading Down 1.6 %

The business has a 50 day simple moving average of $26.55 and a 200 day simple moving average of $29.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -4.44 and a beta of 1.62.

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PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. As a group, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy's dividend payout ratio is currently -23.35%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 70,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 1,062,500 shares of company stock worth $28,442,290 in the last quarter. Insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock valued at $10,920,000 after acquiring an additional 392,776 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of PBF Energy in the 3rd quarter worth $2,404,000. Intech Investment Management LLC grew its stake in shares of PBF Energy by 165.9% during the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company's stock worth $1,427,000 after purchasing an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company's stock worth $1,839,000 after purchasing an additional 18,173 shares during the period. Finally, Bridgewater Associates LP increased its holdings in PBF Energy by 40.5% in the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock valued at $2,896,000 after purchasing an additional 26,952 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

About PBF Energy

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.