PBF Energy Inc. (PBF) can make a big difference with a little luck

PBF Energy Inc. (NYSE: PBF) stock fell -2.13% on Friday to $32.62 against a previous-day closing price of $33.33. With 2.8 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.31 million shares. During the session, the Oil & Gas Refining & Marketing company that operates in wider Energy sector, reached to the highest price of $34.89 whereas the lowest price it dropped to was $32.19. The 52-week range on PBF shows that it touched its highest point at $44.12 and its lowest point at $7.24 during that stretch. It currently has a 1-year price target of $37.27. Beta for the stock currently stands at 2.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PBF was up-trending over the past week, with a rise of 4.75%, but this was up by 15.39% over a month. Three-month performance surged to 7.13% while six-month performance rose 86.40%. The stock gained 248.88% in the past year, while it has gained 151.50% so far this year. A look at the trailing 12-month EPS for PBF yields 11.21 with Next year EPS estimates of 4.83. For the next quarter, that number is 4.34. This implies an EPS growth rate of 116.20% for this year and -68.13% for next year.

Float and Shares Shorts:

At present, 121.27 million PBF shares are outstanding with a float of 107.72 million shares on hand for trading. On Jul 14, 2022, short shares totaled 11.85 million, which was 9.80% higher than short shares on Jun 14, 2022. In addition to Mr. Thomas J. Nimbley as the firm’s CEO & Chairman, Mr. Matthew C. Lucey serves as its Pres.

Institutional Ownership:

Through their ownership of 80.89% of PBF’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.77% of PBF, in contrast to 33.75% held by mutual funds. Shares owned by individuals account for 14.22%. As the largest shareholder in PBF with 12.37% of the stake, BlackRock Fund Advisors holds 14,943,365 shares worth 14,943,365. A second-largest stockholder of PBF, The Vanguard Group, Inc., holds 12,092,203 shares, controlling over 10.01% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PBF, holding 8,585,542 shares or 7.11% stake. With a 5.57% stake in PBF, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,731,937 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.50% of PBF stock, is the second-largest Mutual Fund holder. It holds 3,016,006 shares valued at 87.52 million. SPDR S&P Oil & Gas Exploration & holds 2.40% of the stake in PBF, owning 2,905,646 shares worth 84.32 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PBF since 14 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PBF analysts setting a high price target of $48.00 and a low target of $30.00, the average target price over the next 12 months is $38.31. Based on these targets, PBF could surge 47.15% to reach the target high and fall by -8.03% to reach the target low. Reaching the average price target will result in a growth of 17.44% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PBF will report FY 2022 earnings on 02/09/2023. Analysts have provided yearly estimates in a range of $21.85 being high and $13.06 being low. For PBF, this leads to a yearly average estimate of $17.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. PBF Energy Inc. surprised analysts by $2.73 when it reported $10.58 EPS against a consensus estimate of $7.85. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $6.58 and the low estimate is $3.75. The average estimate for the next quarter is thus $4.99.

Summary of Insider Activity:

Insiders traded PBF stock several times over the past three months with 10 Buys and 27 Sells. In these transactions, 92,080 shares were bought while 4,567,565 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 335,246 while 12,217,336 shares were sold.

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