Unusual Call Option Trade in PBF Energy Worth $723.8K

On March 1, 2023 at 13:39:21 ET an unusually large $723.80K block of Call contracts in PBF Energy (PBF) was bought, with a strike price of $40.00 / share, expiring in 107 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.23 sigmas above the mean, placing it in the 93.64 percentile of all recent large trades made in PBF options.

This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.

Analyst Price Forecast Suggests 11.08% Upside

As of March 1, 2023, the average one-year price target for PBF Energy is $48.55. The forecasts range from a low of $29.29 to a high of $73.50. The average price target represents an increase of 11.08% from its latest reported closing price of $43.71.

The projected annual revenue for PBF Energy is $38,131MM, a decrease of 18.58%. The projected annual EPS is $9.33, a decrease of 60.24%.

What is the Fund Sentiment?

There are 811 funds or institutions reporting positions in PBF Energy. This is an increase of 121 owner(s) or 17.54% in the last quarter. Average portfolio weight of all funds dedicated to PBF is 0.26%, an increase of 18.14%. Total shares owned by institutions decreased in the last three months by 0.64% to 123,105K shares. The put/call ratio of PBF is 0.56, indicating a bullish outlook.

What are large shareholders doing?

IJR – iShares Core S&P Small-Cap ETF holds 7,842K shares representing 6.08% ownership of the company. In it’s prior filing, the firm reported owning 6,662K shares, representing an increase of 15.05%. The firm increased its portfolio allocation in PBF by 44.75% over the last quarter.

Deutsche Bank Ag\ holds 4,566K shares representing 3.54% ownership of the company. No change in the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 3,530K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 2,778K shares, representing an increase of 21.29%. The firm increased its portfolio allocation in PBF by 236.31% over the last quarter.

Bank of New York Mellon holds 3,407K shares representing 2.64% ownership of the company. In it’s prior filing, the firm reported owning 4,052K shares, representing a decrease of 18.94%. The firm decreased its portfolio allocation in PBF by 83.50% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,245K shares representing 2.52% ownership of the company. In it’s prior filing, the firm reported owning 3,016K shares, representing an increase of 7.05%. The firm increased its portfolio allocation in PBF by 35.88% over the last quarter.

PBF Energy Declares $0.20 Dividend

On February 16, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of March 1, 2023 will receive the payment on March 16, 2023. Previously, the company paid $0.30 per share.

At the current share price of $43.71 / share, the stock’s dividend yield is 1.83%. Looking back five years and taking a sample every week, the average dividend yield has been 3.68%, the lowest has been 1.68%, and the highest has been 20.30%. The standard deviation of yields is 2.01 (n=114).

The current dividend yield is 0.92 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.04. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is -0.33%.

PBF Energy Background Information
(This description is provided by the company.)

PBF Energy Inc. is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company’s mission is to operate its facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where it does business, and provide superior returns to its investors.

This article originally appeared on Fintel

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