PBF Energy (NYSE:PBF) Shares Gap Up After Insider Buying Activity

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $19.00, but opened at $19.50. PBF Energy shares last traded at $20.16, with a volume of 277,929 shares changing hands.

Specifically, insider Control Empresarial De Capital purchased 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the acquisition, the insider now owns 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. Mizuho upped their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Wells Fargo & Company increased their price target on PBF Energy from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.18.

PBF Energy Trading Up 3.1%

The stock's fifty day simple moving average is $18.02 and its 200-day simple moving average is $23.17. 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 firm has a market cap of $2.41 billion, a PE ratio of -4.43 and a beta of 0.82.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm's quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, May 15th. PBF Energy's dividend payout ratio is presently -12.09%.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of PBF. Fifth Third Bancorp lifted its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 803 shares during the period. Allworth Financial LP lifted its holdings in shares of PBF Energy by 194.3% in the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PBF Energy in the first quarter worth about $35,000. Neo Ivy Capital Management purchased a new stake in shares of PBF Energy in the first quarter worth about $37,000. Finally, Activest Wealth Management grew its holdings in PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 1,999 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.