PBF Energy (NYSE:PBF) Trading Up 4% - Still a Buy?

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price rose 4% on Tuesday . The stock traded as high as $23.55 and last traded at $23.79. Approximately 138,662 shares changed 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on PBF. Piper Sandler reduced their target price on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 2nd. Mizuho lifted their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Scotiabank reduced their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company increased their price objective on PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 11th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $23.18.

PBF Energy Price Performance

The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.84 billion, a PE ratio of -5.20 and a beta of 0.82. The business's 50-day simple moving average is $18.58 and its 200-day simple moving average is $22.83.

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

PBF Energy Announces Dividend

The business also recently announced 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 of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.48%. PBF Energy's dividend payout ratio is -12.09%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 15,000 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $13.98 per share, with a total value of $209,700.00. Following the completion of the transaction, the insider now owns 30,757,998 shares of the company's stock, valued at $429,996,812.04. This represents a 0.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 224,500 shares of company stock worth $3,816,695 over the last three months. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in PBF Energy during the first quarter valued at approximately $473,000. Acadian Asset Management LLC lifted its holdings in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock valued at $62,000 after buying an additional 2,354 shares during the period. Intech Investment Management LLC lifted its holdings in shares of PBF Energy by 27.3% during the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company's stock valued at $2,279,000 after buying an additional 25,616 shares during the period. Bayforest Capital Ltd boosted its stake in shares of PBF Energy by 212.4% in the 1st quarter. Bayforest Capital Ltd now owns 30,219 shares of the oil and gas company's stock worth $577,000 after buying an additional 20,547 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PBF Energy by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock worth $4,996,000 after acquiring an additional 12,289 shares during the period. Hedge funds and other 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.

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