PBF Energy Inc. (NYSE:PBF) Short Interest Update

PBF Energy Inc. (NYSE:PBF) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 15,290,981 shares, a decrease of 30.1% from the February 26th total of 21,889,010 shares. Based on an average daily volume of 5,113,613 shares, the short-interest ratio is presently 3.0 days. Approximately 14.0% of the company’s stock are short sold.

PBF Energy Stock Performance

NYSE PBF traded down $1.03 on Monday, hitting $50.20. 2,938,971 shares of the stock traded hands, compared to its average volume of 4,718,961. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The business’s fifty day moving average is $38.68 and its two-hundred day moving average is $34.07. PBF Energy has a 12 month low of $13.61 and a 12 month high of $52.18. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -34.15, a PEG ratio of 0.64 and a beta of 0.41.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the company posted ($2.82) earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s payout ratio is currently -74.83%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBF shares. Piper Sandler boosted their price objective on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research report on Monday, January 5th. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a report on Monday, December 8th. Finally, The Goldman Sachs Group increased their price target on shares of PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $31.69.

Insider Buying and Selling at PBF Energy

In other news, Director Thomas J. Nimbley sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $51.36, for a total value of $2,568,000.00. Following the transaction, the director owned 790,716 shares in the company, valued at $40,611,173.76. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital sold 469,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $49.44, for a total value of $23,221,968.00. Following the completion of the transaction, the insider directly owned 20,975,698 shares of the company’s stock, valued at approximately $1,037,038,509.12. This represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,598,799 shares of company stock worth $406,300,229. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the period. Torren Management LLC bought a new position in PBF Energy in the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators grew its stake in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 440 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in PBF Energy in the 4th quarter valued at approximately $31,000. Finally, Hantz Financial Services Inc. raised its holdings in 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 valued at $39,000 after acquiring an additional 912 shares during the period. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.