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 $4,299,030 were purchased by Control Empresarial de Capital on Nov 01 ’24. At $28.66 per share, Control Empresarial de Capital acquired 150,000 shares. The insider’s holdings grew to 26,112,498 shares worth approximately $805.31 million following the completion of this transaction.
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Also, Control Empresarial de Capital purchased 322,000 shares, netting a total of over 9,173,426 in proceeds. Following the buying of shares at $28.49 each, the insider now holds 25,962,498 shares.
Before that, Control Empresarial de Capital had added 300,000 shares to its account. In a trade valued at $8,701,530, the Add’l Rep. Persons-see Ex.99-1 bought PBF Energy Inc shares for $29.01 each. Upon closing the transaction, the insider’s holdings increased to 300,000 shares, worth approximately $790.75 million.
As published in a research note from TD Cowen on November 01, 2024, PBF Energy Inc [PBF] has been retained to a Hold and the price target has been revised to $27. As of October 04, 2024, BMO Capital Markets has decreased its “an Outperform” rating to a “Market perform” for PBF. Earlier on October 02, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for PBF stock which previously was a “an Overweight”.
Analyzing PBF Stock Performance
During the last five days, there has been a surge of approximately 6.97%. Over the course of the year, PBF Energy Inc shares have dropped approximately -29.85%. Shares of the company reached a 52-week high of $62.88 on 04/05/24 and a 52-week low of $27.94 on 11/01/24. A 50-day SMA is recorded $31.91, while a 200-day SMA reached $43.78. Nevertheless, trading volume fell to 3.17 million shares from 2.36 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 29.94, which, if violated, would cause prices to drop to 29.04. In the upper region, resistance lies at 31.70. The next price resistance is at 32.56. RSI (Relative Strength Index) is 48.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.37, which suggests the price will decrease in the coming days. Percent R is at 53.12%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
