Short Interest in PBF Energy Inc. (NYSE:PBF) Decreases By 30.1%

PBF Energy Inc. (NYSE:PBF) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 15,290,981 shares, a decrease of 30.1% from the February 26th total of 21,889,010 shares. Based on an average trading volume of 5,113,613 shares, the days-to-cover ratio is currently 3.0 days. Approximately 14.0% of the company’s shares are short sold.

Analyst Ratings Changes

PBF has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a research note on Monday, January 5th. The Goldman Sachs Group increased their price objective on PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective on the stock. in a report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Finally, Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $31.69.

More PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Management and analysts pointing to a recovering margin environment as the core fundamental story supporting recent gains; commentary suggests operating improvements are sustaining the one?year rally. PBF Energy SVP Trimmed His Position — A Recovering Margin Environment Is the Real Story
• Neutral Sentiment: Market commentary is asking whether PBF’s 181% one?year surge leaves upside limited or whether momentum and margin recovery can continue; this debate is keeping sentiment mixed rather than decisively bullish. Is It Too Late To Consider PBF Energy (PBF) After Its 181% One-Year Surge?
• Negative Sentiment: Control Empresarial De Capital sold 687,500 PBF shares (~$34.0M at ~$49.49), reducing its stake and increasing free float — a sizable block sale that can pressure the stock. Control Empresarial De Capital Sells 687,500 Shares
• Negative Sentiment: Control Empresarial De Capital also sold 469,700 shares (~$23.2M at ~$49.44) in a separate filing, further signaling insider/major?holder liquidity taking place this week. PBF Energy Insider Control Empresarial De Capital Sells 469,700 Shares
• Negative Sentiment: Director Thomas J. Nimbley sold 50,000 shares for about $2.57M, trimming his position — another insider sale disclosed this week. PBF Energy (NYSE:PBF) Director Sells $2,568,000.00 in Stock
• Negative Sentiment: SVP Trecia M. Canty sold 62,999 shares (~$3.15M at $50.00), a near?25% reduction in her holding, disclosed via SEC filing — adds to the pattern of insiders monetizing gains. Trecia M. Canty SEC Filing

PBF Energy Stock Up 1.6%

Shares of NYSE:PBF traded up $0.82 during trading hours on Friday, hitting $51.19. The company’s stock had a trading volume of 3,167,726 shares, compared to its average volume of 4,747,710. PBF Energy has a 52 week low of $13.61 and a 52 week high of $51.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of -34.82, a P/E/G ratio of 0.64 and a beta of 0.41. The firm’s fifty day moving average price is $38.27 and its 200 day moving average price is $33.87.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The firm had revenue of $7.14 billion for 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 company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned ($2.82) earnings per share. As a group, research analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 469,700 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $49.44, for a total value of $23,221,968.00. Following the sale, the insider directly owned 20,975,698 shares of the company’s stock, valued at $1,037,038,509.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Trecia M. Canty sold 62,999 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $3,149,950.00. Following the completion of the sale, the senior vice president directly owned 191,779 shares of the company’s stock, valued at approximately $9,588,950. The trade was a 24.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 9,598,799 shares of company stock worth $406,300,229. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds have recently made changes to their positions in PBF. Royal Bank of Canada raised its holdings in PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after purchasing an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after buying an additional 12,289 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of PBF Energy by 135.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,277 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 3,613 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other 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.