Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $6.36 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 $9.18 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 -3.05%. Over the course of the year, PBF Energy Inc shares have jumped approximately 30.28%. 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 $53.69, while a 200-day SMA reached $48.11. Nevertheless, trading volume fell to 1.27 million shares from 1.27 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 56.73, which, if violated, would cause prices to drop to 56.18. In the upper region, resistance lies at 57.94. The next price resistance is at 58.60. RSI (Relative Strength Index) is 51.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.56, which suggests the price will decrease in the coming days. Percent R is at 76.03%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
