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

PBF Energy Inc. (NYSE:PBF)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $37.26 and last traded at $37.9010, with a volume of 196895 shares traded. The stock had previously closed at $35.32.

Analysts Set New Price Targets

A number of research firms have commented on PBF. Wells Fargo & Company lifted their target price on PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Mizuho boosted their target price on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. Morgan Stanley set a $27.00 target price on PBF Energy and gave the company an “underweight” rating in a report on Friday, October 3rd. The Goldman Sachs Group boosted their target price on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, TD Cowen increased their target price on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $27.83.

PBF Energy Price Performance

The company has a market capitalization of $4.38 billion, a P/E ratio of -8.09 and a beta of 0.79. The company has a fifty day moving average price of $30.43 and a 200 day moving average price of $24.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.50) earnings per share. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

Insider Activity at PBF Energy

In related news, SVP Connor Thomas L. O sold 30,000 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the senior vice president owned 207,984 shares in the company, valued at approximately $7,071,456. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Nimbley sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the transaction, the director owned 790,716 shares of the company’s stock, valued at approximately $27,287,609.16. This represents a 24.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 331,048 shares of company stock worth $11,390,041 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in PBF Energy by 7.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,719 shares of the oil and gas company’s stock valued at $444,000 after acquiring an additional 1,070 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares during the last quarter. Old West Investment Management LLC acquired a new position in shares of PBF Energy during the 3rd quarter worth about $4,245,000. Savant Capital LLC increased its stake in shares of PBF Energy by 11.4% during the 3rd quarter. Savant Capital LLC now owns 21,717 shares of the oil and gas company’s stock worth $655,000 after purchasing an additional 2,219 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.