PBF Energy (NYSE:PBF) Sets New 12-Month High – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $42.64 and last traded at $42.64, with a volume of 1703923 shares. The stock had previously closed at $39.76.

Analysts Set New Price Targets

Several analysts have issued reports on PBF shares. BMO Capital Markets restated a “market perform” rating and issued a $34.00 target price on shares of PBF Energy in a research note on Monday, January 5th. Piper Sandler increased their target price on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Zacks Research upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Finally, Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $31.00 to $38.00 in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $30.21.

PBF Energy Stock Up 2.1%

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 market cap of $5.35 billion, a P/E ratio of -31.10, a price-to-earnings-growth ratio of 6.01 and a beta of 0.41. The stock’s fifty day moving average is $33.12 and its two-hundred day moving average is $31.69.

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

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. PBF Energy’s dividend payout ratio (DPR) is presently -74.83%.

Insider Activity

In related news, insider Control Empresarial De Capital sold 480,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total value of $16,833,600.00. Following the transaction, the insider directly owned 29,583,498 shares in the company, valued at approximately $1,037,493,274.86. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the sale, the director owned 790,716 shares of the company’s stock, valued at approximately $31,683,990.12. The trade was a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,054,879 shares of company stock valued at $108,052,950 in the last three months. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in shares of PBF Energy by 15.6% during the 4th quarter. Pacer Advisors Inc. now owns 19,473 shares of the oil and gas company’s stock valued at $528,000 after purchasing an additional 2,635 shares during the last quarter. Corient Private Wealth LLC boosted its position in PBF Energy by 4.1% during the fourth quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 483 shares during the period. Empowered Funds LLC grew its stake in shares of PBF Energy by 7.3% during the fourth quarter. Empowered Funds LLC now owns 119,402 shares of the oil and gas company’s stock valued at $3,238,000 after buying an additional 8,154 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of PBF Energy by 49.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,729,304 shares of the oil and gas company’s stock worth $46,899,000 after buying an additional 574,001 shares during the period. Finally, SummitTX Capital L.P. purchased a new stake in PBF Energy during the 4th quarter valued at about $821,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

About PBF Energy

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.