PBF Energy Inc. (NYSE:PBF – Get Free Report) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 8,750,000 shares, a decline of 21.2% from the October 31st total of 11,110,000 shares. Based on an average daily volume of 2,260,000 shares, the short-interest ratio is currently 3.9 days. Currently, 8.1% of the shares of the company are short sold.

Insider Activity

In other news, SVP Connor Thomas L. O sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $55.17, for a total value of $2,758,500.00. Following the completion of the sale, the senior vice president now directly owns 117,503 shares of the company’s stock, valued at approximately $6,482,640.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of PBF. JPMorgan Chase & Co. grew its holdings in shares of PBF Energy by 12.2% in the 1st quarter. JPMorgan Chase & Co. now owns 396,209 shares of the oil and gas company’s stock worth $9,656,000 after acquiring an additional 43,143 shares during the period. Raymond James & Associates acquired a new stake in shares of PBF Energy in the 1st quarter worth approximately $224,000. MetLife Investment Management LLC grew its holdings in PBF Energy by 56.1% during the 1st quarter. MetLife Investment Management LLC now owns 51,879 shares of the oil and gas company’s stock valued at $1,264,000 after buying an additional 18,652 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in PBF Energy during the 1st quarter valued at $578,000. Finally, Rhumbline Advisers grew its holdings in PBF Energy by 0.3% during the 1st quarter. Rhumbline Advisers now owns 308,096 shares of the oil and gas company’s stock valued at $7,508,000 after buying an additional 784 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF traded up $0.71 on Friday, hitting $45.11. 1,675,729 shares of the company’s stock were exchanged, compared to its average volume of 1,915,071. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.85. The firm’s 50-day moving average price is $47.04 and its two-hundred day moving average price is $45.30. PBF Energy has a fifty-two week low of $31.25 and a fifty-two week high of $56.38. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 2.08 and a beta of 1.74.

PBF Energy (NYSE:PBF – Get Free Report) last released its earnings results on Thursday, November 2nd. The oil and gas company reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.86 by $1.75. PBF Energy had a return on equity of 36.11% and a net margin of 7.06%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $9.84 billion. On average, research analysts expect that PBF Energy will post 12.32 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from PBF Energy’s previous quarterly dividend of $0.20. PBF Energy’s dividend payout ratio is currently 4.61%.

Wall Street Analyst Weigh In

Several analysts have commented on PBF shares. Wells Fargo & Company upped their price objective on PBF Energy from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. The Goldman Sachs Group upped their price objective on PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, September 1st. BMO Capital Markets started coverage on PBF Energy in a research note on Thursday, October 5th. They set an “outperform” rating and a $60.00 price objective for the company. StockNews.com raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Mizuho reduced their price objective on PBF Energy from $63.00 to $53.00 and set a “neutral” rating for the company in a research note on Friday, October 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PBF Energy currently has a consensus rating of “Moderate Buy” and an average price target of $57.67.

Check Out Our Latest Report on PBF Energy

PBF Energy Company Profile (Get Free Report)

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 from crude oil.

See Also

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Original: MarketBeat News Feed: PBF Energy Inc. (NYSE:PBF) Short Interest Down 21.2% in November