PBF Energy (NYSE:PBF) Trading Down 3.4% – Here’s What Happened

PBF Energy Inc. (NYSE:PBF)’s share price was down 3.4% on Tuesday . The stock traded as low as $14.79 and last traded at $14.59. Approximately 290,989 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,339,870 shares. The stock had previously closed at $15.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PBF shares. TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Mizuho decreased their price objective on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. Scotiabank cut their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday. JPMorgan Chase & Co. decreased their price target 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. Finally, Piper Sandler reduced their target price 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 equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.18.

PBF Energy Trading Down 4.3 %

The firm’s 50-day moving average price is $20.73 and its 200 day moving average price is $26.78. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -3.07 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

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

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 60,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were bought at an average price of $29.29 per share, with a total value of $1,757,400.00. Following the completion of the transaction, the insider now directly owns 29,144,998 shares in the company, valued at approximately $853,656,991.42. This trade represents a 0.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 712,000 shares of company stock valued at $17,345,980. 5.30% of the stock is owned by company insiders.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of PBF Energy by 80.4% in the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,085 shares during the period. Golden State Wealth Management LLC bought a new position in shares of PBF Energy in the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC grew its stake in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of PBF Energy by 61.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 1,320 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.