PBF Energy (NYSE:PBF) Shares Up 4% - Should You Buy?

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price was up 4% on Tuesday . The company traded as high as $23.55 and last traded at $23.79. Approximately 138,662 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 2,596,412 shares. The stock had previously closed at $22.88.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PBF shares. The Goldman Sachs Group decreased their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price target on PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. decreased their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. UBS Group upgraded 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. Finally, Morgan Stanley decreased their price target on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $23.18.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. The stock has a 50-day simple moving average of $19.21 and a 200 day simple moving average of $22.72. The company has a market capitalization of $2.75 billion, a PE ratio of -2.62 and a beta of 0.82.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $6.27 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The business's revenue was down 18.3% on a year-over-year basis. Equities analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.62%. PBF Energy's dividend payout ratio is currently -12.09%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 15,000 shares of PBF Energy stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of $13.98 per share, for a total transaction of $209,700.00. Following the completion of the transaction, the insider now directly owns 30,757,998 shares of the company's stock, valued at $429,996,812.04. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased 224,500 shares of company stock worth $3,816,695 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. increased its stake in PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock valued at $375,000 after purchasing an additional 364 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company's stock valued at $1,931,000 after purchasing an additional 480 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. Vident Advisory LLC increased its stake in PBF Energy by 9.5% in the fourth quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company's stock valued at $213,000 after purchasing an additional 698 shares during the last quarter. Finally, LPL Financial LLC increased its stake in PBF Energy by 3.2% in the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock valued at $632,000 after purchasing an additional 748 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.