The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PBF Energy Inc. shares valued at $5,555,729 were sold by Davis Paul T on Nov 04. At $47.28 per share, Davis Paul T sold 117,500 shares. The insider’s holdings dropped to 44,126 shares worth approximately $1.94 million following the completion of this transaction.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Also, Barone John C sold 32,500 shares, netting a total of over 1,493,937 in proceeds. Following the sale of shares at $45.97 each, the insider now holds 14,662 shares.
Before that, O Connor Thomas L had sold 100,000 shares from its account. In a trade valued at $3,753,540, the Senior Vice President traded PBF Energy Inc. shares for $37.54 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $3.51 million.
Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late September. As of September 15, 2022, Wolfe Research has increased its “an Underperform” rating to a “an Outperform” for PBF. Earlier on June 14, 2022, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for PBF stock which previously was a “an Equal weight”.
Analyzing PBF Stock Performance
On Thursday, PBF Energy Inc. [NYSE: PBF] rose 2.62% to $43.87. The stock’s lowest price that day was $42.64, but it reached a high of $44.53 in the same session. During the last five days, there has been a surge of approximately 5.00%. Over the course of the year, PBF Energy Inc. shares have jumped approximately 7.58%. Shares of the company reached a 52-week high of $47.29 on 02/16/23 and a 52-week low of $36.40 on 01/04/23. A 50-day SMA is recorded $40.38, while a 200-day SMA reached $36.86. Nevertheless, trading volume fell to 5.35 million shares from 2.52 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 42.83, which, if violated, would cause prices to drop to 41.79. In the upper region, resistance lies at 44.72. The next price resistance is at 45.57. RSI (Relative Strength Index) is 55.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.91, which suggests the price will increase in the coming days. Percent R is at 35.92%, 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 steep in short interest on Jan 12, 2023 dropping by -1.07 million shares to 9.14 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 10.21 million shares. A decline of -11.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.01 of the overall float, the days-to-cover ratio (short ratio) decline to 3.01.
Which companies own the most shares of PBF Energy Inc. (PBF)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,310,427 shares, which is about 10.05% of the total PBF shares outstanding. The investor’s shares have plunged by -670,875 from its previous 13-F filing of 12981302.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $495,612,715. SSgA Funds Management, Inc. acquire a 0.75% interest valued at $278.66 million while Dimensional Fund Advisors LP purchased a 119,256 stake. A total of 2,281,397 shares of PBF Energy Inc. were bought by DWS Investments during the quarter, and 931,301 were bought by Arrowstreet Capital LP. In its current portfolio, First Trust Advisors LP holds 2,754,600 shares valued at $115.67 million.
In terms of PBF Energy Inc. share price expectations, FactSet research, analysts set an average price target of $51.08 in the next 12 months, up nearly 20.47% from the previous closing price of $42.75. Analysts anticipate PBF Energy Inc. stock to reach $70.00 by 2023, with the lowest price target being $36.00. In spite of this, 13 analysts ranked PBF Energy Inc. stock as an Overweight at the end of 2023. On May 17, 2022, JP Morgan assigned a price target of “a Neutral” to the stock and upgraded coverage with a $34.