PBF Energy (NYSE:PBF) Stock Price Crosses Above 50-Day Moving Average on Insider Selling

PBF Energy Inc. (NYSE:PBF) passed above its fifty day moving average during trading on Tuesday following insider buying activity. The stock has a fifty day moving average of $77.56 and traded as high as $79.70. PBF Energy shares last traded at $77.7580, with a volume of 2,496,402 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, October 22nd. UBS Group reiterated a “buy” rating and set a $99.00 target price on shares of PBF Energy in a report on Monday, October 5th. Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Freedom Broker upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and boosted their price target for the stock from $55.00 to $63.00 in a research note on Monday. Finally, Evercore began coverage on PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.50.

PBF Energy Trading Up 3.6%

The company’s fifty day moving average is $77.56 and its two-hundred day moving average is $53.94. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 3.47, a PEG ratio of 0.08 and a beta of 0.15. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. On average, research analysts predict that PBF Energy Inc. will post 25.17 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be given a $0.3250 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from PBF Energy’s previous quarterly dividend of $0.2750. PBF Energy’s payout ratio is currently 4.91%.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares in the last quarter. Sei Investments Co. grew its stake in shares of PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after purchasing an additional 106,819 shares in the last quarter. Empowered Funds LLC grew its stake in shares of PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after purchasing an additional 236,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in PBF Energy by 361.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock valued at $8,718,000 after buying an additional 148,124 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.