PBF Energy (NYSE:PBF) Shares Gap Up – Should You Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $28.53, but opened at $30.65. PBF Energy shares last traded at $30.2010, with a volume of 1,840,077 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on PBF. Piper Sandler lifted their price objective on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, November 14th. UBS Group upped their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Cowen reaffirmed a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. TD Cowen raised their price target on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $29.71.

PBF Energy Stock Performance

The business’s fifty day simple moving average is $32.57 and its 200-day simple moving average is $28.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. The company has a market capitalization of $3.45 billion, a P/E ratio of -6.43, a P/E/G ratio of 0.92 and a beta of 0.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.50) EPS. As a group, equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were issued a $0.275 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.7%. PBF Energy’s payout ratio is currently -23.66%.

Insider Transactions at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul T. Davis sold 50,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the senior vice president directly owned 192,391 shares in the company, valued at approximately $7,310,858. The trade was a 20.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 429,624 shares of company stock worth $15,534,465. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Merit Financial Group LLC lifted its stake in shares of PBF Energy by 3.0% in the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 276 shares during the period. Verdence Capital Advisors LLC increased its holdings in PBF Energy by 2.5% in the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after buying an additional 348 shares in the last quarter. Arizona State Retirement System raised its position in shares of PBF Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after acquiring an additional 353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PBF Energy by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after acquiring an additional 432 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.