PBF Energy (NYSE:PBF) Trading Up 8.9% - What's Next?

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares rose 8.9% during trading on Thursday . The stock traded as high as $28.03 and last traded at $28.10. Approximately 1,882,206 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 3,096,437 shares. The stock had previously closed at $25.81.

Analysts Set New Price Targets

PBF has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Scotiabank raised their price objective on PBF Energy from $16.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday. Mizuho raised their price objective on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Finally, Morgan Stanley decreased their price objective on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.00.

PBF Energy Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $21.55 and a 200 day moving average price of $22.24. The firm has a market cap of $3.32 billion, a PE ratio of -3.15 and a beta of 0.84.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company's quarterly revenue was down 18.3% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 3.83%. PBF Energy's dividend payout ratio is presently -12.09%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction that occurred on 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 acquisition, the insider owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board raised its holdings in PBF Energy by 5.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company's stock valued at $8,929,000 after buying an additional 17,400 shares during the period. Norges Bank acquired a new position in PBF Energy in the 4th quarter valued at about $20,896,000. Heartland Advisors Inc. purchased a new stake in PBF Energy during the fourth quarter worth about $1,420,000. Nuveen Asset Management LLC increased its stake in PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after purchasing an additional 276,672 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in PBF Energy during the fourth quarter worth about $1,654,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.