PBF Energy (NYSE:PBF) Trading Down 4.9% – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares traded down 4.9% during mid-day trading on Friday . The company traded as low as $20.78 and last traded at $20.82. 1,619,192 shares were traded during trading, a decline of 22% from the average session volume of 2,079,949 shares. The stock had previously closed at $21.89.

Analyst Upgrades and Downgrades

PBF has been the subject of several research reports. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Morgan Stanley lowered their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company decreased their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group cut their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Piper Sandler dropped their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $27.36.

PBF Energy Stock Down 5.1 %

The firm has a market cap of $2.40 billion, a P/E ratio of -4.41 and a beta of 1.62. The stock’s 50 day simple moving average is $25.39 and its 200 day simple moving average is $28.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 46,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $29.70 per share, for a total transaction of $1,366,200.00. Following the completion of the transaction, the insider now owns 29,190,998 shares of the company’s stock, valued at approximately $866,972,640.60. This represents a 0.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 721,000 shares of company stock worth $19,269,600 over the last quarter. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC boosted its stake in shares of PBF Energy by 115.1% in the 3rd quarter. Quest Partners LLC now owns 9,459 shares of the oil and gas company’s stock valued at $293,000 after purchasing an additional 5,061 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of PBF Energy by 12.6% during the third quarter. Advisors Asset Management Inc. now owns 39,646 shares of the oil and gas company’s stock valued at $1,227,000 after buying an additional 4,447 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of PBF Energy by 13.8% in the third quarter. King Luther Capital Management Corp now owns 33,240 shares of the oil and gas company’s stock worth $1,029,000 after buying an additional 4,027 shares during the period. Intech Investment Management LLC increased its holdings in shares of PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after buying an additional 28,770 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of PBF Energy by 30.8% in the 3rd quarter. Citigroup Inc. now owns 158,963 shares of the oil and gas company’s stock valued at $4,920,000 after acquiring an additional 37,400 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.