PBF Energy Inc. (NYSE:PBF – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $30.81, but opened at $32.09. PBF Energy shares last traded at $30.28, with a volume of 29,398 shares.
PBF has been the topic of several recent analyst reports. Piper Sandler raised their price target on PBF Energy to $43.00 and gave the company an “overweight” rating in a report on Monday, May 23rd. StockNews.com raised PBF Energy from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. JPMorgan Chase & Co. raised PBF Energy from an “underweight” rating to a “neutral” rating and set a $34.00 price objective on the stock in a report on Tuesday, May 17th. The Goldman Sachs Group lifted their price target on PBF Energy from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, April 22nd. Finally, Wells Fargo & Company raised PBF Energy from an “equal weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a research note on Tuesday, June 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.17.
The stock has a market cap of $3.66 billion, a PE ratio of 14.69 and a beta of 2.24. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.25 and a quick ratio of 0.69. The company has a 50 day moving average price of $32.38 and a two-hundred day moving average price of $23.38.
PBF Energy (NYSE:PBF – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.24 billion. PBF Energy had a return on equity of 2.56% and a net margin of 0.80%. PBF Energy’s revenue for the quarter was up 85.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.61) earnings per share. As a group, equities analysts predict that PBF Energy Inc. will post 6.79 earnings per share for the current fiscal year.
In related news, insider Control Empresarial De Capital sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $27.19, for a total transaction of $27,190,000.00. Following the completion of the transaction, the insider now directly owns 18,270,623 shares of the company’s stock, valued at $496,778,239.37. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $30.61, for a total value of $1,530,500.00. Following the transaction, the senior vice president now directly owns 38,619 shares of the company’s stock, valued at $1,182,127.59. The disclosure for this sale can be found here. Insiders have sold 4,683,987 shares of company stock valued at $147,334,916 in the last three months. 5.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in PBF Energy by 9.6% during the first quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock valued at $298,916,000 after purchasing an additional 1,077,287 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PBF Energy by 14.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,501,542 shares of the oil and gas company’s stock worth $134,071,000 after buying an additional 707,246 shares during the period. Invesco Ltd. raised its holdings in shares of PBF Energy by 39.1% in the fourth quarter. Invesco Ltd. now owns 2,729,244 shares of the oil and gas company’s stock worth $35,399,000 after buying an additional 767,512 shares during the period. Morgan Stanley raised its holdings in shares of PBF Energy by 24.4% in the third quarter. Morgan Stanley now owns 1,721,739 shares of the oil and gas company’s stock worth $22,332,000 after buying an additional 337,357 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PBF Energy by 16.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,633,312 shares of the oil and gas company’s stock worth $39,804,000 after buying an additional 236,604 shares during the period. 69.95% of the stock is owned by institutional investors.
PBF Energy Company Profile (NYSE:PBF)
PBF Energy Inc, together with 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.
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