PBF Energy (NYSE:PBF) Sets New 1-Year High – Still a Buy?

PBF Energy Inc. (NYSE:PBF)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $52.18 and last traded at $50.2010, with a volume of 2938971 shares changing hands. The stock had previously closed at $51.23.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research report on Monday, December 8th. Citigroup upped their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Scotiabank raised PBF Energy to a “hold” rating in a research note on Friday, March 27th. The Goldman Sachs Group lifted their target price on PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Finally, Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $31.69.

PBF Energy Stock Performance

The stock has a market cap of $5.39 billion, a P/E ratio of -31.34, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24. 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 stock’s 50 day simple moving average is $39.28 and its two-hundred day simple moving average is $34.29.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.64. The company 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 firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.82) earnings per share. As a group, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Insider Buying and Selling at PBF Energy

In other news, SVP Trecia M. Canty sold 62,999 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total value of $3,149,950.00. Following the sale, the senior vice president directly owned 191,779 shares in the company, valued at $9,588,950. The trade was a 24.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Nimbley sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $51.36, for a total value of $2,568,000.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at $40,611,173.76. This represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,598,799 shares of company stock valued at $406,300,229 in the last 90 days. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC grew 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 acquiring an additional 276 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of 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 worth $478,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System boosted its holdings in PBF Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after purchasing an additional 353 shares during the last quarter. Next Level Private LLC boosted its holdings in PBF Energy by 0.6% during the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after purchasing an additional 378 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in PBF Energy by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.