PBF Energy Inc (NYSE:PBF) Short Interest Down 10.4% in June

PBF Energy Inc (NYSE:PBF) was the target of a large decline in short interest in 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 volume of 2,130,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 4.7% of the shares of the company are short sold.

Shares of PBF traded down $0.41 during midday trading on Friday, reaching $29.71. The stock had a trading volume of 976,958 shares, compared to its average volume of 2,399,427. PBF Energy has a 52 week low of $23.67 and a 52 week high of $53.91. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $27.53. The firm has a market cap of $3.61 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.34 and a beta of 1.61.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.23). The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.29 billion. PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.29) EPS. Sell-side analysts expect that PBF Energy will post 1.8 earnings per share for the current year.



In other PBF Energy news, CEO Thomas J. Nimbley bought 40,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $23.76 per share, with a total value of $950,400.00. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carso S.A. De C.V. Inversora bought 1,609,796 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average cost of $28.95 per share, for a total transaction of $46,603,594.20. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bremer Bank National Association acquired a new position in shares of PBF Energy in the 1st quarter worth $57,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of PBF Energy in the 1st quarter worth $119,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings 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 worth $156,000 after acquiring an additional 1,670 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of PBF Energy in the 1st quarter worth $206,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of PBF Energy in the 1st quarter worth $224,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Several analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a GBX 460 ($6.01) target price on shares of Sophos Group in a research note on Friday, May 17th. Bank of America reaffirmed a “buy” rating and set a $420.00 target price (up previously from $400.00) on shares of Lendingtree in a research note on Monday, April 29th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Raymond James reaffirmed a “hold” rating on shares of Snc-Lavalin Group in a research note on Tuesday, April 9th. Finally, TheStreet downgraded Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $48.33.

About PBF Energy

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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