PBF Energy (NYSE:PBF) Reaches New 12-Month Low Following Analyst Downgrade

PBF Energy Inc. (NYSE:PBF) shares hit a new 52-week low during trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $28.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. PBF Energy traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares traded. The stock had previously closed at $19.35.

Several other research firms have also recently weighed in on PBF. JPMorgan Chase & Co. decreased their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company reduced their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Piper Sandler dropped their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Morgan Stanley reduced their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Finally, Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.36.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was purchased at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the acquisition, the insider now directly owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 651,000 shares of company stock valued at $17,480,400 in the last 90 days. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PBF. Fortitude Family Office LLC raised its stake in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP acquired a new stake in PBF Energy in the third quarter worth about $48,000. Golden State Wealth Management LLC bought a new stake in PBF Energy during the 4th quarter worth about $61,000. EverSource Wealth Advisors LLC lifted its position in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PBF Energy in the 4th quarter valued at about $68,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

The company’s fifty day moving average is $24.28 and its two-hundred day moving average is $28.24. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -4.03 and a beta of 1.62.

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

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.80%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

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.