PBF Energy (NYSE:PBF) Hits New 12-Month High – Time to Buy?

Shares of PBF Energy Inc. (NYSE:PBF) hit a new 52-week high on Tuesday . The stock traded as high as $64.67 and last traded at $63.9740, with a volume of 2574897 shares traded. The stock had previously closed at $62.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. TD Cowen lifted their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday. Mizuho boosted their target price on PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Freedom Capital upgraded PBF Energy to a “hold” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $42.23.

PBF Energy Stock Performance

The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The firm has a 50-day simple moving average of $45.86 and a two-hundred day simple moving average of $41.26.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter last year, the company earned ($3.53) earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post 9.76 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio is presently 29.65%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the sale, the insider directly owned 15,712,128 shares in the company, valued at $856,625,218.56. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 3,541,570 shares of company stock worth $165,787,386. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

A number of large investors have recently modified their holdings of PBF. Torren Management LLC purchased a new position in PBF Energy in the fourth quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in PBF Energy during the 4th quarter worth about $31,000. Leonteq Securities AG acquired a new stake in PBF Energy in the 1st quarter valued at about $33,000. Smartleaf Asset Management LLC raised its position in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of PBF Energy in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors 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.