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 $5,637,230 were sold by Davis Paul T on Mar 25 ’24. At $56.37 per share, Davis Paul T sold 100,000 shares. The insider’s holdings dropped to 110,978 shares worth approximately $6.56 million following the completion of this transaction.
Also, O Connor Thomas L sold 10,000 shares, netting a total of over 571,500 in proceeds. Following the sale of shares at $57.15 each, the insider now holds 160,338 shares.
Before that, O Connor Thomas L had sold 40,000 shares from its account. In a trade valued at $2,234,600, the Senior Vice President traded PBF Energy Inc shares for $55.87 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $9.47 million.
As published in a research note from Mizuho on March 22, 2024, PBF Energy Inc [PBF] has been rated down from a Buy to a Neutral and the price target has been revised to $58 from $53. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of February 16, 2024, TD Cowen has reiterated its “Market perform” rating for PBF. Earlier on January 24, 2024, Citigroup initiated its rating. Their recommendation was “a Neutral” for PBF stock.
Analyzing PBF Stock Performance
During the last five days, there has been a drop of approximately -3.62%. Over the course of the year, PBF Energy Inc shares have jumped approximately 34.37%. Shares of the company reached a 52-week high of $62.88 on 04/05/24 and a 52-week low of $40.53 on 01/08/24. A 50-day SMA is recorded $52.86, while a 200-day SMA reached $47.67. Nevertheless, trading volume fell to 1.63 million shares from 1.36 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 58.15, which, if violated, would cause prices to drop to 57.24. In the upper region, resistance lies at 59.78. The next price resistance is at 60.50. RSI (Relative Strength Index) is 60.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.91, which suggests the price will decrease in the coming days. Percent R is at 49.31%, 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 Mar 15, 2024 jumping by 0.96 million shares to 11.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.81 million shares. A jump of 8.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.44.
