PBF Energy Sees Unusually Large Options Volume (PBF)

PBF Energy Inc (NYSE:PBF) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 2,678 put options on the company. This is an increase of 1,533% compared to the average daily volume of 164 put options.

NYSE PBF opened at $36.10 on Thursday. PBF Energy has a 12 month low of $29.09 and a 12 month high of $53.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.79. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 0.67 and a beta of 1.40.

A number of research firms have commented on PBF. Tudor Pickering downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Morgan Stanley reduced their price objective on shares of PBF Energy from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 20th. Credit Suisse Group reduced their price objective on shares of PBF Energy from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, January 7th. ValuEngine upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of PBF Energy in a research note on Thursday, January 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. PBF Energy has a consensus rating of “Hold” and a consensus price target of $45.83.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in shares of PBF Energy by 3,260.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,389 shares of the oil and gas company’s stock worth $48,000 after buying an additional 1,521,723 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of PBF Energy by 675.4% in the 4th quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock worth $123,000 after buying an additional 3,296 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position 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 buying an additional 1,670 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of PBF Energy by 172.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock worth $195,000 after buying an additional 2,475 shares during the last quarter. Finally, First Foundation Advisors bought a new position in shares of PBF Energy in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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PBF Energy Company Profile

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.

Further Reading: Hedge Funds

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