Investors Buy High Volume of PBF Energy Put Options (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) was the recipient of some unusual options trading on Tuesday. Traders purchased 8,163 put options on the company. This is an increase of approximately 118% compared to the average daily volume of 3,744 put options.

Insiders Place Their Bets

In other news, SVP Paul T. Davis sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $44.80, for a total transaction of $2,240,000.00. Following the completion of the sale, the senior vice president owned 183,426 shares in the company, valued at approximately $8,217,484.80. The trade was a 21.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Nimbley sold 200,000 shares of the firm’s 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 completion of the transaction, the director owned 790,716 shares in the company, valued at $31,683,990.12. The trade was a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,212,979 shares of company stock worth $158,329,922 over the last three months. 6.70% of the stock is owned by insiders.

Institutional Trading of PBF Energy

Several institutional investors have recently added to or reduced their stakes in PBF. Goldman Sachs Group Inc. grew its holdings in PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. State Street Corp raised its stake in shares of PBF Energy by 1.3% in the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after purchasing an additional 60,294 shares in the last quarter. Invesco Ltd. raised its stake in shares of PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after purchasing an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of PBF Energy by 20.1% during the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after purchasing an additional 418,223 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in PBF Energy by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company’s stock worth $65,108,000 after purchasing an additional 331,404 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Citigroup increased their target price on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. BMO Capital Markets reiterated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a report on Monday, January 5th. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, PBF Energy has an average rating of “Reduce” and an average price target of $30.21.

PBF Energy Stock Up 6.0%

Shares of PBF Energy stock traded up $2.27 during trading hours on Tuesday, hitting $40.39. 1,480,935 shares of the company’s stock traded hands, compared to its average volume of 3,627,498. PBF Energy has a twelve month low of $13.61 and a twelve month high of $47.18. The company has a market cap of $4.72 billion, a PE ratio of -27.43, a PEG ratio of 5.80 and a beta of 0.41. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $33.69 and a 200-day simple moving average of $32.05.

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

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio is presently -74.83%.

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.