Short Interest in PBF Energy Inc (NYSE:PBF) Declines By 5.2%

PBF Energy Inc (NYSE:PBF) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 6,170,000 shares, a decline of 5.2% from the December 15th total of 6,510,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately 6.3% of the shares of the company are short sold.

Shares of NYSE PBF traded down $0.25 during midday trading on Thursday, reaching $31.36. 8,328 shares of the stock were exchanged, compared to its average volume of 1,070,734. The stock has a market capitalization of $3.79 billion, a P/E ratio of 9.61, a PEG ratio of 1.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 1.56. The company has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $28.49. PBF Energy has a twelve month low of $21.09 and a twelve month high of $37.03.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.29 billion. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. On average, research analysts expect that PBF Energy will post 0.87 earnings per share for the current year.

In related news, insider Carso S.A. De C.V. Inversora acquired 5,028 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $32.56 per share, for a total transaction of $163,711.68. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 2,292,385 shares of company stock valued at $71,434,520. Insiders own 3.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Northwest Investment Counselors LLC acquired a new stake in shares of PBF Energy during the third quarter worth about $52,000. NewSquare Capital LLC purchased a new stake in shares of PBF Energy during the 2nd quarter worth $90,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of PBF Energy by 15.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,757 shares of the oil and gas company’s stock worth $206,000 after purchasing an additional 902 shares during the last quarter. Starfire Investment Advisers Inc. purchased a new stake in shares of PBF Energy during the 3rd quarter worth $213,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of PBF Energy by 362.4% during the third quarter. Tower Research Capital LLC TRC now owns 8,472 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 6,640 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on PBF shares. Barclays started coverage on PBF Energy in a research report on Tuesday. They set an “overweight” rating and a $38.00 target price on the stock. Wells Fargo & Co boosted their price objective on PBF Energy from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. ValuEngine downgraded PBF Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Tudor Pickering upgraded PBF Energy from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, December 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $32.00 price target on shares of PBF Energy in a research note on Sunday, December 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $37.30.

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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