Investors Buy Large Volume of PBF Energy Put Options (PBF)
PBF Energy Inc. (NYSE:PBF) was the target of some unusual options trading activity on Tuesday. Stock traders bought 8,609 put options on the stock. This represents an increase of 1,397% compared to the average volume of 575 put options.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its position in PBF Energy by 4.6% in the first quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock valued at $1,877,000 after buying an additional 3,706 shares during the period. Great West Life Assurance Co. Can increased its position in PBF Energy by 167.1% in the second quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 47,041 shares during the period. Nomura Asset Management Co. Ltd. increased its position in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in PBF Energy during the first quarter valued at $113,000. Finally, Point72 Asset Management L.P. purchased a new position in PBF Energy during the first quarter valued at $19,439,000.
PBF Energy (PBF) opened at 24.79 on Friday. The company’s 50 day moving average is $22.01 and its 200 day moving average is $21.93. PBF Energy has a 52 week low of $18.48 and a 52 week high of $30.98. The stock’s market cap is $2.72 billion.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.09. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. During the same period last year, the business earned $0.14 earnings per share. Equities analysts predict that PBF Energy will post $0.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, August 11th. PBF Energy’s dividend payout ratio (DPR) is currently -363.64%.
Several research firms have recently commented on PBF. ValuEngine upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday. Tudor Pickering upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Citigroup Inc. lowered their price target on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Finally, Scotiabank set a $24.00 price target on shares of PBF Energy and gave the company a “buy” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.00.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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