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 $5.58 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 $8.06 million.
As published in a research note from TD Cowen on May 03, 2024, PBF Energy Inc [PBF] has been retained to a Hold and the price target has been revised to $45. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of March 15, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for PBF. Earlier on February 16, 2024, TD Cowen resumed its rating. Their recommendation was “a Market perform” for PBF stock.
Analyzing PBF Stock Performance
During the last five days, there has been a drop of approximately -3.70%. Over the course of the year, PBF Energy Inc shares have jumped approximately 14.33%. 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 $55.06, while a 200-day SMA reached $49.11. Nevertheless, trading volume fell to 2.16 million shares from 1.93 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 49.60, which, if violated, would cause prices to drop to 48.94. In the upper region, resistance lies at 51.31. The next price resistance is at 52.36. RSI (Relative Strength Index) is 29.80 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.47, which suggests the price will decrease in the coming days. Percent R is at 96.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
