Insider Selling: O Connor Thomas L, PBF Energy Inc. [PBF] Senior Vice President divested 100,000 shares

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 $3,753,540 were sold by O Connor Thomas L on Aug 23. At $37.54 per share, O Connor Thomas L sold 100,000 shares. The insider’s holdings dropped to 80,000 shares worth approximately $2.37 million following the completion of this transaction.

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Also, Control Empresarial de Capital sold 538,500 shares, netting a total of over 20,147,816 in proceeds. Following the sale of shares at $37.41 each, the insider now holds 11,745,500 shares.

Before that, Control Empresarial de Capital had sold 1,245,183 shares from its account. In a trade valued at $43,785,989, the Add’l Rep. Persons-see Ex.99-1 traded PBF Energy Inc. shares for $35.16 each. Upon closing the transaction, the insider’s holdings decreased to 1,245,183 shares, worth approximately $363.61 million.

As published in a research note from JP Morgan on September 21, 2022, PBF Energy Inc. [PBF] has been rated up from a Neutral to an Overweight and the price target has been revised to $43. This represents a 31.16% premium over Wednesday’s closing price. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”an Outperform”‘ outlook in a report released in mid September. As of June 14, 2022, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for PBF. Earlier on May 17, 2022, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for PBF stock which previously was a “an Underweight”.

Analyzing PBF’s Price Performance

On Wednesday, PBF Energy Inc. [NYSE: PBF] plunged -0.30% to $29.60. The stock’s lowest price that day was $28.93, but it reached a high of $31.08 in the same session. During the last five days, there has been a drop of approximately -2.73%. Over the course of the year, PBF Energy Inc. shares have jumped approximately 128.22%. 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 $31.97, while a 200-day SMA reached $25.74. Nevertheless, trading volume fell to 3.18 million shares from 2.45 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 28.66, which, if violated, would cause prices to drop to 27.72. In the upper region, resistance lies at 30.81. The next price resistance is at 32.02. RSI (Relative Strength Index) is 39.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.16, which suggests the price will decrease in the coming days. Percent R is at 66.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PBF Energy Inc. subject to short interest?

Stocks of PBF Energy Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.75 million shares to 11.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.1 million shares. A jump of 14.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.31 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.31.

Which companies own the most shares of PBF Energy Inc. (PBF)?

According to BlackRock Fund Advisors filings, the company currently owns 15,052,243 shares, which is about 12.35% of the total PBF shares outstanding. The investor’s shares have appreciated by 108,878 from its previous 13-F filing of 14943365.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $419,268,362. SSgA Funds Management, Inc. reduced a -23.27% interest valued at $225.02 million while Dimensional Fund Advisors LP purchased a 405,175 stake. A total of 1,511,415 shares of PBF Energy Inc. were bought by Newton Investment Management Nort during the quarter, and 2,828,965 were bought by First Trust Advisors LP. In its current portfolio, Assenagon Asset Management SA holds 2,756,230 shares valued at $94.15 million.


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