Investors Buy Large Volume of Put Options on PBF Energy (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders bought 3,130 put options on the company. This is an increase of approximately 77% compared to the typical volume of 1,768 put options.

PBF Energy Stock Performance

PBF stock traded down $1.01 during trading hours on Monday, reaching $13.99. The stock had a trading volume of 4,079,350 shares, compared to its average volume of 2,271,977. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy has a fifty-two week low of $13.67 and a fifty-two week high of $61.88. The stock has a 50-day simple moving average of $23.04 and a 200 day simple moving average of $27.67. The stock has a market capitalization of $1.61 billion, a PE ratio of -2.97 and a beta of 1.15.

PBF Energy (NYSE:PBF - Get Free Report) last posted 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. Analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 7.86%. PBF Energy's dividend payout ratio (DPR) is currently -23.35%.

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Analyst Ratings Changes

Several brokerages have recently issued reports on PBF. TD Cowen decreased their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, March 11th. Piper Sandler dropped their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, March 7th. UBS Group decreased their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $25.55.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the completion of the transaction, the insider now owns 30,534,998 shares of the company's stock, valued at $582,913,111.82. The trade was a 0.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought 671,000 shares of company stock valued at $17,862,200 over the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after buying an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in PBF Energy in the 3rd quarter worth approximately $48,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the fourth quarter worth about $61,000. EverSource Wealth Advisors LLC raised its position in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after buying an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of PBF Energy during the fourth quarter worth approximately $68,000. 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.