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

PBF Energy Inc. (NYSE:PBF) gapped up prior to trading on Monday . The stock had previously closed at $28.53, but opened at $30.65. PBF Energy shares last traded at $30.2010, with a volume of 1,840,077 shares changing hands.

Wall Street Analysts Forecast Growth

PBF has been the subject of several research reports. Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. TD Cowen upped their target price on shares of PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Wall Street Zen raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and a consensus price target of $29.71.

PBF Energy Stock Up 4.5%

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The firm’s 50-day moving average price is $32.57 and its 200 day moving average price is $28.65. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -6.43, a price-to-earnings-growth ratio of 0.92 and a beta of 0.47.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. PBF Energy’s revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.50) earnings per share. Sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s dividend payout ratio is presently -23.66%.

Insiders Place Their Bets

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director directly owned 790,716 shares of the company’s stock, valued at $27,287,609.16. The trade was a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Steven John Andriola sold 2,579 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $26.19, for a total transaction of $67,544.01. Following the completion of the sale, the chief accounting officer directly owned 17,414 shares of the company’s stock, valued at approximately $456,072.66. This represents a 12.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 429,624 shares of company stock worth $15,534,465. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently made changes to their positions in the company. Intech Investment Management LLC grew its holdings in PBF Energy by 27.3% during the first quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock worth $2,279,000 after purchasing an additional 25,616 shares during the period. Nomura Holdings Inc. bought a new position in shares of PBF Energy in the second quarter worth $5,843,000. Pallas Capital Advisors LLC acquired a new position in PBF Energy during the second quarter valued at approximately $448,000. Ieq Capital LLC bought a new position in PBF Energy in the 1st quarter valued at approximately $192,000. Finally, Creative Planning grew its holdings in shares of PBF Energy by 64.8% during the second quarter. Creative Planning now owns 92,976 shares of the oil and gas company’s stock worth $2,015,000 after purchasing an additional 36,571 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.