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Understanding the Risks of Investing in PBF Energy Inc (PBF)

PBF Energy Inc’s recent filing unveils that its Senior Vice President Davis Paul T unloaded Company’s shares for reported $5.64 million on Mar 25 ’24. In the deal valued at $56.37 per share,100,000 shares were sold. As a result of this transaction, Davis Paul T now holds 110,978 shares worth roughly $5.38 million.

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Then, O Connor Thomas L sold 10,000 shares, generating $571,500 in total proceeds. Upon selling the shares at $57.15, the Senior Vice President now owns 160,338 shares.

Before that, O Connor Thomas L sold 40,000 shares. PBF Energy Inc shares valued at $2,234,600 were divested by the Senior Vice President at a price of $55.87 per share. As a result of the transaction, O Connor Thomas L now holds 160,338 shares, worth roughly $7.77 million.

TD Cowen reiterated its PBF Energy Inc [PBF] rating to a Hold in a research note published on May 03, 2024; the price target was $45. A number of analysts have revised their coverage, including Mizuho’s analysts, who decreased its forecast for the stock in late March from “a Buy” to “a Neutral”. BofA Securities also remained covering PBF and has increased its forecast on March 15, 2024 with a “Buy” recommendation from previously “Neutral” rating. TD Cowen maintained its rating on February 16, 2024. It rated PBF as “a Market perform”.

Price Performance Review of PBF

On Friday, PBF Energy Inc [NYSE:PBF] saw its stock fall -2.81% to $48.47. Over the last five days, the stock has lost -6.54%. PBF Energy Inc shares have risen nearly 10.26% since the year began. Nevertheless, the stocks have risen 36.65% over the past one year. While a 52-week high of $62.88 was reached on 04/05/24, a 52-week low of $33.86 was recorded on 01/08/24. SMA at 50 days reached $55.18, while 200 days put it at $49.14. A total of 1.65 million shares were traded, compared to the trading of 2.13 million shares in the previous session.

Levels Of Support And Resistance For PBF Stock

The 24-hour chart illustrates a support level at 47.56, which if violated will result in even more drops to 46.66. On the upside, there is a resistance level at 50.09. A further resistance level may holdings at 51.72. The Relative Strength Index (RSI) on the 14-day chart is 25.56, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.08%. Stochastics %K at 2.22% indicates the stock is a buying.

The most recent change occurred on January 24, 2024 when Citigroup began covering the stock and recommended ‘”a Neutral”‘ rating.

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