PBF Energy Inc (NYSE:PBF) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 5,115,100 shares, a decline of 10.4% from the May 30th total of 5,707,200 shares. Based on an average daily trading volume, of 2,130,000 shares, the short-interest ratio is presently 2.4 days. Approximately 4.7% of the company’s stock are short sold.
A number of brokerages have weighed in on PBF. Credit Suisse Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Clovis Oncology in a research report on Wednesday, May 15th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. TheStreet cut Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. Bank of America reissued a “buy” rating and set a $420.00 price objective (up previously from $400.00) on shares of Lendingtree in a research report on Monday, April 29th. Finally, Raymond James reissued a “hold” rating on shares of Snc-Lavalin Group in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. PBF Energy has a consensus rating of “Hold” and a consensus price target of $48.33.
In related news, CEO Thomas J. Nimbley purchased 40,000 shares of PBF Energy stock in a transaction on Friday, June 14th. The stock was bought at an average price of $23.76 per share, with a total value of $950,400.00. Following the completion of the transaction, the chief executive officer now directly owns 405,990 shares of the company’s stock, valued at $9,646,322.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carso S.A. De C.V. Inversora purchased 1,609,796 shares of PBF Energy stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $28.95 per share, with a total value of $46,603,594.20. The disclosure for this purchase can be found here. 3.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PBF. Bremer Bank National Association acquired a new position in PBF Energy in the 1st quarter valued at approximately $57,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in PBF Energy in the 1st quarter valued at approximately $119,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of PBF Energy by 53.5% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 1,670 shares during the period. Moors & Cabot Inc. bought a new stake in shares of PBF Energy in the 1st quarter valued at approximately $206,000. Finally, Magnus Financial Group LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at approximately $229,000. 88.82% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE PBF traded down $0.41 during trading hours on Friday, hitting $29.71. 976,958 shares of the company’s stock were exchanged, compared to its average volume of 2,399,427. PBF Energy has a 1-year low of $23.67 and a 1-year high of $53.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.54. The stock has a market cap of $3.61 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.34 and a beta of 1.61. The firm has a 50-day moving average of $27.53.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm posted ($0.29) EPS. PBF Energy’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, research analysts predict that PBF Energy will post 1.8 earnings per share for the current year.
PBF Energy Company Profile
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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