Traders Purchase Large Volume of Put Options on PBF Energy (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 3,130 put options on the company. This is an increase of 77% compared to the average daily volume of 1,768 put options.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average price of $29.60 per share, with a total value of $2,960,000.00. Following the completion of the acquisition, the insider now directly owns 29,084,998 shares in the company, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 671,000 shares of company stock valued at $17,862,200 in the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hara Capital LLC grew its stake in shares of PBF Energy by 7.8% during the 4th quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company’s stock worth $14,486,000 after acquiring an additional 39,278 shares in the last quarter. Phocas Financial Corp. acquired a new stake in PBF Energy in the 4th quarter valued at $254,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PBF Energy during the 4th quarter worth about $3,132,000. GF Fund Management CO. LTD. acquired a new position in shares of PBF Energy during the 4th quarter worth about $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of PBF Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock worth $6,622,000 after buying an additional 17,404 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of PBF opened at $16.72 on Friday. The stock has a 50 day simple moving average of $23.34 and a 200 day simple moving average of $27.87. PBF Energy has a 52-week low of $16.51 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market capitalization of $1.93 billion, a PE ratio of -3.55 and a beta of 1.62.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. Sell-side analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Thursday, February 27th. PBF Energy’s dividend payout ratio is -23.35%.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. TD Cowen reduced their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler dropped their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. cut their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company dropped their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.55.

About PBF Energy

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.