PBF Energy Inc. (NYSE:PBF – Get Rating) was the recipient of unusually large options trading on Wednesday. Investors bought 4,645 call options on the company. This represents an increase of approximately 90% compared to the average volume of 2,442 call options.
Insider Buying and Selling
In related news, SVP Connor Thomas L. O sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $37.54, for a total transaction of $3,754,000.00. Following the completion of the sale, the senior vice president now directly owns 80,000 shares in the company, valued at $3,003,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.
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Institutional Trading of PBF Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in PBF Energy during the fourth quarter valued at approximately $3,207,000. Swiss National Bank boosted its position in shares of PBF Energy by 7.4% in the first quarter. Swiss National Bank now owns 227,500 shares of the oil and gas company's stock worth $5,544,000 after buying an additional 15,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of PBF Energy by 10.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 325,992 shares of the oil and gas company's stock valued at $7,944,000 after buying an additional 31,345 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in PBF Energy during the 1st quarter worth approximately $617,000. Finally, Seven Eight Capital LP lifted its position in PBF Energy by 94.0% during the 4th quarter. Seven Eight Capital LP now owns 26,752 shares of the oil and gas company's stock worth $347,000 after acquiring an additional 12,961 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. StockNews.com raised PBF Energy from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 18th. TheStreet raised shares of PBF Energy from a "c" rating to a "b-" rating in a research note on Friday, July 29th. JPMorgan Chase & Co. upgraded shares of PBF Energy from a "neutral" rating to an "overweight" rating and set a $43.00 price target for the company in a research note on Wednesday, September 21st. Wolfe Research upgraded PBF Energy from an "underperform" rating to an "outperform" rating and increased their price objective for the company from $36.00 to $49.00 in a research note on Wednesday, September 14th. Finally, Piper Sandler boosted their target price on PBF Energy from $45.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PBF Energy has an average rating of "Hold" and a consensus price target of $34.46.
PBF Energy Stock Performance
Shares of PBF opened at $39.59 on Thursday. PBF Energy has a 12-month low of $10.58 and a 12-month high of $44.12. The stock has a market cap of $4.83 billion, a P/E ratio of 3.50 and a beta of 2.00. The company has a current ratio of 1.08, a quick ratio of 0.64 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $33.37 and a two-hundred day moving average of $31.09.
PBF Energy (NYSE:PBF – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The oil and gas company reported $10.58 EPS for the quarter, beating analysts' consensus estimates of $7.36 by $3.22. The business had revenue of $14.08 billion for the quarter, compared to analyst estimates of $10.67 billion. PBF Energy had a return on equity of 55.28% and a net margin of 3.64%. The business's revenue for the quarter was up 104.1% compared to the same quarter last year. During the same quarter last year, the company earned ($1.26) earnings per share. As a group, research analysts predict that PBF Energy will post 20.69 EPS for the current fiscal year.
About PBF Energy
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PBF Energy Inc, together with 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.
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