PBF Energy (NYSE:PBF) Trading 7% Higher Following Insider Buying Activity

PBF Energy Inc. (NYSE:PBF)’s stock price traded up 7% on Wednesday after an insider bought additional shares in the company. The company traded as high as $15.52 and last traded at $15.44. 833,956 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,886,350 shares. The stock had previously closed at $14.43.

Specifically, insider Control Empresarial De Capital acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average price of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the acquisition, the insider now owns 30,774,998 shares of the company’s stock, valued at approximately $444,390,971.12. This trade represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital bought 15,000 shares of PBF Energy stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average price of $13.98 per share, with a total value of $209,700.00. Following the completion of the purchase, the insider now owns 30,757,998 shares in the company, valued at $429,996,812.04. This trade represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PBF shares. Morgan Stanley dropped their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company lowered their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Scotiabank reduced their price target on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, Piper Sandler reduced their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.18.

PBF Energy Stock Up 2.0 %

The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.75 billion, a P/E ratio of -3.22 and a beta of 1.15. The stock’s 50-day simple moving average is $19.92 and its 200-day simple moving average is $26.50.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after buying an additional 803 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of PBF Energy by 3.8% during the 1st quarter. Yousif Capital Management LLC now owns 42,404 shares of the oil and gas company’s stock worth $809,000 after purchasing an additional 1,568 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of PBF Energy by 61.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 1,320 shares during the period. Wedge Capital Management L L P NC grew its holdings in PBF Energy by 19.7% during the first quarter. Wedge Capital Management L L P NC now owns 49,550 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 8,144 shares during the period. Finally, Next Level Private LLC purchased a new stake in PBF Energy in the first quarter worth $405,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.