PBF Energy (NYSE:PBF) Shares Gap Up – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares gapped up prior to trading on Monday . The stock had previously closed at $35.60, but opened at $38.00. PBF Energy shares last traded at $37.1170, with a volume of 565,338 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PBF. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a research report on Monday, December 8th. Finally, UBS Group upped their price target on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, PBF Energy has an average rating of “Reduce” and an average target price of $30.21.

PBF Energy Stock Up 4.6%

The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $31.84 and a two-hundred day moving average of $31.27. The firm has a market capitalization of $4.35 billion, a PE ratio of -25.32, a price-to-earnings-growth ratio of 4.78 and a beta of 0.50.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted ($2.82) earnings per share. PBF Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Insider Activity

In other news, insider Control Empresarial De Capital sold 250,000 shares of PBF Energy stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $34.91, for a total transaction of $8,727,500.00. Following the sale, the insider directly owned 27,591,198 shares in the company, valued at approximately $963,208,722.18. The trade was a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 2,635,879 shares of company stock worth $91,446,680. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

A number of large investors have recently bought and sold shares of the business. Merit Financial Group LLC increased its stake in shares of PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 276 shares during the last quarter. Verdence Capital Advisors LLC raised its stake 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 during the period. Arizona State Retirement System lifted 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 valued at $774,000 after buying an additional 353 shares during the last quarter. Next Level Private LLC boosted its stake in shares of PBF Energy by 0.6% during the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after acquiring an additional 378 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 during the last quarter. 96.29% of the stock is owned by institutional investors.

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.