PBF Energy (NYSE:PBF) Trading Up 4.8% - Still a Buy?

Key Points

• PBF Energy shares rose 4.8% to about $73.86 in mid-day trading, although volume was 58% below the average daily level.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $59.55, below its trading price, despite UBS assigning a “Buy” rating and an $84 target.
• PBF significantly beat quarterly earnings expectations, reporting $6.22 EPS versus $4.15 expected and 56.2% year-over-year revenue growth. The company also pays a $0.275 quarterly dividend, while insiders sold more than 6.17 million shares over the past three months.

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares were up 4.8% during mid-day trading on Thursday . The company traded as high as $73.75 and last traded at $73.8570. 1,410,982 shares were traded during trading, a decline of 58% from the average daily volume of 3,385,590 shares. The stock had previously closed at $70.47.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBF. Morgan Stanley upped their price target on shares of PBF Energy from $38.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, September 14th. TD Cowen upped their target price on PBF Energy from $39.00 to $68.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Citigroup raised their price target on PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, July 31st. UBS Group boosted their price objective on PBF Energy from $62.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, Evercore assumed coverage on shares of PBF Energy in a research note on Friday, July 17th. They issued an "in-line" rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, PBF Energy presently has an average rating of "Hold" and a consensus price target of $59.55.

PBF Energy Trading Up 2.6%

The stock has a market capitalization of $8.57 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.06 and a beta of 0.09. The firm's 50 day moving average price is $70.04 and its 200 day moving average price is $52.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm earned ($1.03) EPS. The company's quarterly revenue was up 56.2% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post 22.61 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy's payout ratio is currently 9.73%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, the insider directly owned 17,142,128 shares of the company's stock, valued at $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Lucey sold 225,473 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the transaction, the chief executive officer directly owned 495,771 shares of the company's stock, valued at $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,176,374 shares of company stock worth $392,439,037 in the last three months. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in PBF Energy during the 1st quarter valued at approximately $33,000. Eurizon Capital SGR S.p.A. bought a new position in shares of PBF Energy during the fourth quarter worth $57,000. Global Retirement Partners LLC grew its stake in PBF Energy by 3,354.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock valued at $60,000 after acquiring an additional 2,147 shares in the last quarter. IFP Advisors Inc increased its holdings in PBF Energy by 68.7% in the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company's stock valued at $66,000 after acquiring an additional 591 shares during the last quarter. Finally, Strs Ohio bought a new stake in PBF Energy in the 1st quarter valued at $143,000. Institutional investors own 96.29% of the company's stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.

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