PBF Energy (NYSE:PBF) Trading Down 4.9% – Time to Sell?

PBF Energy Inc. (NYSE:PBF) fell 4.9% on Friday . The company traded as low as $20.78 and last traded at $20.82. 1,619,192 shares changed hands 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 Ratings Changes

PBF has been the subject of several recent research reports. Morgan Stanley reduced their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Piper Sandler cut their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, PBF Energy currently has an average rating of “Hold” and a consensus target price of $27.36.

PBF Energy Trading Down 4.9 %

The firm’s 50-day moving average is $25.53 and its 200 day moving average is $28.79. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -4.42 and a beta of 1.62. 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 released 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 business had revenue of $7.35 billion for 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%. On average, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 70,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the transaction, the insider now directly owns 28,884,998 shares of the company’s stock, valued at $738,300,548.88. This represents a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 721,000 shares of company stock worth $19,269,600 over the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC raised its position 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 valued at $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP purchased a new position in PBF Energy in the 3rd quarter valued at approximately $48,000. Golden State Wealth Management LLC bought a new stake in PBF Energy during the 4th quarter valued at $61,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in PBF Energy during the fourth quarter valued at approximately $68,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.