PBF Energy (NYSE:PBF) Stock Price Crosses Above 50-Day Moving Average on Insider Selling

Key Points

• PBF Energy shares moved above their 50-day moving average, trading as high as $79.70 and last quoted at $77.76; the 50-day average was $77.56.
• The refiner reported quarterly EPS of $12.78, beating the $11.12 consensus, while revenue rose 58.6% year over year to $12.13 billion.
• PBF raised its quarterly dividend from $0.275 to $0.325 per share. Analysts’ average rating is “Hold,” with an average price target of $70.50.

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) passed above its 50-day moving average during trading on Tuesday after an insider bought additional shares in the company. The stock has a 50-day moving average of $77.56 and traded as high as $79.70. PBF Energy shares last traded at $77.7580, with a volume of 2,496,402 shares changing hands.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of recent analyst reports. BMO Capital Markets restated a "market perform" rating on shares of PBF Energy in a report on Thursday, October 1st. UBS Group reaffirmed a "buy" rating and set a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. TD Cowen upped their price objective on PBF Energy from $73.00 to $75.00 and gave the company a "hold" rating in a report on Thursday, October 22nd. Freedom Capital lowered PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Finally, Freedom Broker upgraded PBF Energy from a "sell" rating to a "hold" rating and increased their price objective for the stock from $55.00 to $63.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $70.50.

PBF Energy Stock Performance

The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 3.47, a price-to-earnings-growth ratio of 0.08 and a beta of 0.15. The firm's fifty day moving average price is $77.56 and its 200 day moving average price is $53.94.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, beating the consensus estimate of $11.12 by $1.66. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The firm's revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.52) EPS. Analysts forecast that PBF Energy Inc. will post 25.17 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.3250 per share. This is an increase from PBF Energy's previous quarterly dividend of $0.2750. This represents a $1.30 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, November 12th. PBF Energy's dividend payout ratio (DPR) is 4.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP boosted its holdings in PBF Energy by 90.4% during the 2nd quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company's stock valued at $2,887,000 after acquiring an additional 30,117 shares during the period. Hsbc Holdings PLC grew its position in PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company's stock valued at $1,840,000 after acquiring an additional 30,430 shares in the last quarter. Fifth Third Bancorp grew its position in PBF Energy by 2,197.1% in the 1st quarter. Fifth Third Bancorp now owns 32,114 shares of the oil and gas company's stock valued at $1,529,000 after acquiring an additional 30,716 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock valued at $153,452,000 after acquiring an additional 1,137,533 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in PBF Energy in the 1st quarter valued at about $2,965,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy Inc NYSE: PBF is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.

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