PBF Energy Inc. [PBF] moved up 3.08: Why It’s Important


PBF Energy Inc. [NYSE: PBF] surged by $1.06 during the normal trading session on Thursday and reaching a high of $35.66 during the day while it closed the day at $35.48. The company report on May 25, 2022 that PBF Energy Announces Successful Renewal and Extension of Credit Facility, Total Availability Increases to $4.3 Billion.

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PBF Energy Inc. (NYSE: PBF) today announced that its subsidiary, PBF Holding Company LLC, successfully completed a multi-year extension of its asset-based revolving credit facility (“Credit Facility”), with an aggregate commitment of $4.3 billion. The Credit Facility includes two committed tranches, an extended tranche of $2.75 billion that will mature in January 2025 and an existing tranche of $1.55 billion that retains the current maturity date in May 2023. The extended tranche of the Credit Facility may be increased under the accordion by up to $2.0 billion. The Credit Facility was extended with no other significant change in terms.

Erik Young, PBF Energy’s Chief Financial Officer, said, “Our amended and extended, multi-year Credit Facility provides more than ample near-term liquidity and financial flexibility, and is a critical component of our continuing efforts to strengthen the balance sheet. We thank our bank group and appreciate their support and confidence in PBF Energy.”.

PBF Energy Inc. stock has also gained 12.21% of its value over the past 7 days. However, PBF stock has inclined by 104.73% in the 3 months of the year. Over the past six months meanwhile, it has gained 191.30% and gained 173.55% year-on date.

The market cap for PBF stock reached $4.08 billion, with 120.34 million shares outstanding and 101.83 million shares in the current float. Compared to the average trading volume of 3.50M shares, PBF reached a trading volume of 4261870 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PBF Energy Inc. [PBF]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PBF shares is $30.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PBF stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for PBF Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 17, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $20 to $30. The new note on the price target was released on April 21, 2022, representing the official price target for PBF Energy Inc. stock. Previously, the target price had yet another raise from $15 to $25, while BofA Securities kept a Buy rating on PBF stock. On January 25, 2022, analysts increased their price target for PBF shares from 13 to 21.

The Average True Range (ATR) for PBF Energy Inc. is set at 1.76, with the Price to Sales ratio for PBF stock in the period of the last 12 months amounting to 0.13. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 12.48. Price to Free Cash Flow for PBF in the course of the last twelve months was 5.40 with Quick ratio for the last quarter at 0.70.

PBF stock trade performance evaluation

PBF Energy Inc. [PBF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.21. With this latest performance, PBF shares gained by 16.52% in over the last four-week period, additionally plugging by 191.30% over the last 6 months – not to mention a rise of 99.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PBF stock in for the last two-week period is set at 74.09, with the RSI for the last a single of trading hit 80.86, and the three-weeks RSI is set at 70.23 for PBF Energy Inc. [PBF]. The present Moving Average for the last 50 days of trading for this stock 28.27, while it was recorded at 33.48 for the last single week of trading, and 18.16 for the last 200 days.

PBF Energy Inc. [PBF]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PBF Energy Inc. [PBF] shares currently have an operating margin of +2.61 and a Gross Margin at +3.51. PBF Energy Inc.’s Net Margin is presently recorded at +0.85.

Return on Equity for this stock inclined to 12.94, with Return on Assets sitting at 1.99.

PBF Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

PBF Energy Inc. [PBF]: Insider Ownership positions

There are presently around $3,231 million, or 79.80% of PBF stock, in the hands of institutional investors. The top three institutional holders of PBF stocks are: BLACKROCK INC. with ownership of 16,561,319, which is approximately -2.818% of the company’s market cap and around 12.60% of the total institutional ownership; VANGUARD GROUP INC, holding 12,265,760 shares of the stock with an approximate value of $422.19 million in PBF stocks shares; and STATE STREET CORP, currently with $295.51 million in PBF stock with ownership of nearly -13.094% of the company’s market capitalization.

Positions in PBF Energy Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 132 institutional holders increased their position in PBF Energy Inc. [NYSE:PBF] by around 12,510,279 shares. Additionally, 107 investors decreased positions by around 8,711,659 shares, while 34 investors held positions by with 72,651,733 shares. The mentioned changes placed institutional holdings at 93,873,671 shares, according to the latest SEC report filing. PBF stock had 59 new institutional investments in for a total of 3,857,801 shares, while 23 institutional investors sold positions of 1,774,380 shares during the same period.