PBF Energy Inc. [PBF] Stock trading around $35.78 per share: What’s Next?

PBF Energy Inc. [NYSE: PBF] gained 9.92% or 3.23 points to close at $35.78 with a heavy trading volume of 7822127 shares. The company report on December 12, 2022 that PBF Energy Announces $500 Million Share Repurchase Program.

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PBF Energy Inc. (NYSE: PBF) announced today that its board of directors has authorized the repurchase of up to $500 million of PBF Class A common stock.

These repurchases may be made from time to time through various methods, including open market transactions, block trades, accelerated share repurchases, privately negotiated transactions or otherwise, certain of which may be effected through Rule 10b5-1 plans. The timing and number of shares repurchased will depend on a variety of factors, including price, capital availability, legal requirements and economic and market conditions.  PBF is not obligated to purchase any shares under the repurchase program, and repurchases may be suspended or discontinued at any time without prior notice.

It opened the trading session at $32.73, the shares rose to $36.30 and dropped to $32.355, the range by which the price of stock traded the whole day. The daily chart for PBF points out that the company has recorded -4.66% loss over the past six months. However, it is still -238.19% lower than its most recent low trading price.

If we look at the average trading volume of 3.54M shares, PBF reached to a volume of 7822127 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $48.18 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 2.40. 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 Overweight, with their previous recommendation back on September 21, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $36 to $49. The new note on the price target was released on September 15, 2022, representing the official price target for PBF Energy Inc. stock. Previously, the target price had yet another raise to $57, while Wells Fargo analysts kept a Overweight rating on PBF stock.

The Average True Range (ATR) for PBF Energy Inc. is set at 2.20, with the Price to Sales ratio for PBF stock in the period of the last 12 months amounting to 0.11. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 13.57. Price to Free Cash Flow for PBF in the course of the last twelve months was 1.35 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for PBF stock

PBF Energy Inc. [PBF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.77. With this latest performance, PBF shares dropped by -23.35% in over the last four-week period, additionally sinking by -4.66% over the last 6 months – not to mention a rise of 179.75% 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 37.24, with the RSI for the last a single of trading hit 37.25, and the three-weeks RSI is set at 40.12 for PBF Energy Inc. [PBF]. The present Moving Average for the last 50 days of trading for this stock 42.29, while it was recorded at 33.57 for the last single week of trading, and 32.99 for the last 200 days.

PBF Energy Inc. [PBF]: A deeper dive into fundamental analysis

PBF Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.20.

PBF Energy Inc. [PBF]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PBF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PBF Energy Inc. go to 0.00%.

An analysis of insider ownership at PBF Energy Inc. [PBF]

There are presently around $4,216 million, or 81.60% of PBF stock, in the hands of institutional investors. The top three institutional holders of PBF stocks are: BLACKROCK INC. with ownership of 18,324,922, which is approximately 9.929% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 13,175,781 shares of the stock with an approximate value of $471.43 million in PBF stocks shares; and STATE STREET CORP, currently with $235.69 million in PBF stock with ownership of nearly 0% of the company’s market capitalization.

Positions in PBF Energy Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 215 institutional holders increased their position in PBF Energy Inc. [NYSE:PBF] by around 17,734,944 shares. Additionally, 130 investors decreased positions by around 12,405,708 shares, while 31 investors held positions by with 87,687,008 shares. The mentioned changes placed institutional holdings at 117,827,660 shares, according to the latest SEC report filing. PBF stock had 76 new institutional investments in for a total of 3,114,615 shares, while 32 institutional investors sold positions of 4,963,992 shares during the same period.


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