Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PBF Energy Inc. shares valued at $20,147,816 were sold by Control Empresarial de Capital on Jun 03. At $37.41 per share, Control Empresarial de Capital sold 538,500 shares. The insider’s holdings dropped to 11,745,500 shares worth approximately $397.0 million following the completion of this transaction.
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Also, Control Empresarial de Capital sold 1,245,183 shares, netting a total of over 43,785,989 in proceeds. Following the sale of shares at $35.16 each, the insider now holds 12,284,000 shares.
Before that, Control Empresarial de Capital had sold 503,000 shares from its account. In a trade valued at $17,242,136, the Add’l Rep. Persons-see Ex.99-1 traded PBF Energy Inc. shares for $34.28 each. Upon closing the transaction, the insider’s holdings decreased to 503,000 shares, worth approximately $457.29 million.
As published in a research note from Wells Fargo on June 14, 2022, PBF Energy Inc. [PBF] has been rated up from an Equal weight to an Overweight and the price target has been revised to $57. This represents a 40.7% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of April 21, 2022, Wells Fargo has increased its “an Underweight” rating to a “an Equal weight” for PBF. Earlier on March 08, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for PBF stock which previously was a “a Neutral”.
Analyzing PBF’s Price Performance
On Wednesday, PBF Energy Inc. [NYSE: PBF] plunged -5.22% to $33.80. The stock’s lowest price that day was $32.884, but it reached a high of $35.37 in the same session. During the last five days, there has been a drop of approximately -13.16%. Over the course of the year, PBF Energy Inc. shares have jumped approximately 160.60%. Shares of the company reached a 52-week high of $44.12 on 06/08/22 and a 52-week low of $13.10 on 01/03/22. A 50-day SMA is recorded $31.94, while a 200-day SMA reached $20.03. Nevertheless, trading volume fell to 3.31 million shares from 4.51 million shares the previous day.
Support And Resistance Levels for PBF Energy Inc. (PBF)
According to the 24-hour chart, there is a support level at 32.67, which, if violated, would cause prices to drop to 31.53. In the upper region, resistance lies at 35.15. The next price resistance is at 36.50. RSI (Relative Strength Index) is 47.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.98, which suggests the price will decrease in the coming days. Percent R is at 83.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of PBF Energy Inc. (PBF)?
According to BlackRock Fund Advisors filings, the company currently owns 14,943,365 shares, which is about 12.37% of the total PBF shares outstanding. The investor’s shares have plunged by -15,273 from its previous 13-F filing of 14958638.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $401,461,140. SSgA Funds Management, Inc. reduced a -13.09% interest valued at $285.04 million while Dimensional Fund Advisors LP purchased a 707,246 stake. A total of -203,303 shares of PBF Energy Inc. were bought by Invesco Capital Management LLC during the quarter, and 525,959 were bought by Morgan Stanley & Co. LLC. In its current portfolio, Newton Investment Management Nort holds 2,426,529 shares valued at $80.56 million.
In terms of PBF Energy Inc. share price expectations, FactSet research, analysts set an average price target of $36.07 in the next 12 months, down nearly -4.66% from the previous closing price of $35.66. Analysts anticipate PBF Energy Inc. stock to reach $57.00 by 2022, with the lowest price target being $25.00. In spite of this, 15 analysts ranked PBF Energy Inc. stock as a Hold at the end of 2022. On January 25, 2022, Piper Sandler assigned a price target of “an Overweight” to the stock and upgraded coverage with a $21.