PBF Energy Inc. (PBF) Short Interest Update
PBF Energy Inc. (NYSE:PBF) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 15,086,336 shares, a growth of 40.4% from the September 15th total of 10,745,800 shares. Based on an average daily volume of 3,074,701 shares, the days-to-cover ratio is currently 4.9 days. Approximately 15.6% of the shares of the company are short sold.
PBF Energy (NYSE:PBF) opened at 19.82 on Monday. The company’s 50-day moving average price is $22.04 and its 200 day moving average price is $25.47. PBF Energy has a 52 week low of $19.47 and a 52 week high of $41.75. The company’s market cap is $1.94 billion.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business posted $0.88 EPS. PBF Energy’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts anticipate that PBF Energy will post ($0.29) EPS for the current year.
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In other news, insider Connor Thomas L. O acquired 10,000 shares of PBF Energy stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the purchase, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $1,086,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average price of $21.84 per share, for a total transaction of $1,092,000.00. Following the completion of the purchase, the chief executive officer now directly owns 160,000 shares of the company’s stock, valued at $3,494,400. The disclosure for this purchase can be found here. Corporate insiders own 5.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of PBF Energy by 6.8% in the second quarter. JPMorgan Chase & Co. now owns 8,310,247 shares of the company’s stock valued at $197,618,000 after buying an additional 530,076 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of PBF Energy by 9.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,882,948 shares of the company’s stock valued at $163,676,000 after buying an additional 583,670 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PBF Energy by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,215,984 shares of the company’s stock valued at $124,035,000 after buying an additional 219,973 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of PBF Energy by 63.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,085,580 shares of the company’s stock valued at $73,375,000 after buying an additional 1,192,834 shares in the last quarter. Finally, Snow Capital Management LP raised its stake in shares of PBF Energy by 17.6% in the second quarter. Snow Capital Management LP now owns 2,955,164 shares of the company’s stock valued at $70,274,000 after buying an additional 441,277 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on PBF. Credit Suisse Group AG restated an “outperform” rating on shares of PBF Energy in a research note on Sunday, September 4th. Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Barclays PLC restated an “equal weight” rating and set a $26.00 price objective on shares of PBF Energy in a research note on Monday, August 1st. Goldman Sachs Group Inc. cut PBF Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $23.00 to $19.00 in a research note on Thursday, September 8th. Finally, JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. PBF Energy has a consensus rating of “Hold” and a consensus target price of $29.33.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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