PBF Energy (NYSE:PBF) Stock Price Up 8% - Here's Why

Key Points

• PBF Energy shares jumped 8% on Monday, trading as high as $46.74 after closing at $43.11 the prior session. Volume was below average, with about 1.15 million shares changing hands.
• Recent analyst commentary was mixed, but several firms raised price targets or improved ratings. Still, the overall consensus remains cautious, with MarketBeat showing an average rating of "Reduce" and a consensus target price of $36.69.
• The company reported mixed quarterly results, missing EPS estimates but beating revenue expectations, and it also paid a quarterly dividend of $0.275 per share. Insider selling has been notable, with executives and insiders selling shares over the past three months.

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares traded up 8% on Monday . The stock traded as high as $46.74 and last traded at $46.5680. 1,150,753 shares were traded during trading, a decline of 66% from the average session volume of 3,395,486 shares. The stock had previously closed at $43.11.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PBF shares. Citigroup boosted their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. The Goldman Sachs Group initiated coverage on shares of PBF Energy in a research note on Friday, April 10th. They issued a "neutral" rating and a $49.00 price target for the company. TD Cowen raised PBF Energy from a "sell" rating to a "hold" rating and upped their price target for the company from $36.00 to $39.00 in a research report on Monday. Scotiabank upped their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, PBF Energy presently has an average rating of "Reduce" and a consensus target price of $36.69.

PBF Energy Trading Up 9.2%

The company's 50 day simple moving average is $40.99 and its 200-day simple moving average is $37.82. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.57 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.14 and a beta of 0.12.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion for the quarter, compared to analysts' expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.53) earnings per share. As a group, research analysts predict that PBF Energy Inc. will post 7.69 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy's dividend payout ratio (DPR) is presently 29.65%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 362,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total transaction of $15,747,000.00. Following the completion of the sale, the insider directly owned 18,891,698 shares of the company's stock, valued at approximately $821,788,863. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Fedena sold 77,085 shares of the business's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total transaction of $3,823,416.00. Following the transaction, the senior vice president owned 139,016 shares in the company, valued at approximately $6,895,193.60. This trade represents a 35.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,663,085 shares of company stock worth $76,012,206. 5.50% of the stock is owned by company insiders.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently made changes to their positions in PBF. Parallel Advisors LLC lifted its holdings in shares of PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company's stock valued at $180,000 after buying an additional 242 shares during the period. PNC Financial Services Group Inc. raised its holdings in PBF Energy by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company's stock worth $326,000 after buying an additional 260 shares during the period. Merit Financial Group LLC lifted its stake in PBF Energy by 3.4% during the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company's stock valued at $268,000 after buying an additional 325 shares in the last quarter. Next Level Private LLC boosted its holdings in shares of PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company's stock worth $1,808,000 after buying an additional 378 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of PBF Energy by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company's stock worth $375,000 after acquiring an additional 383 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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