PBF Energy (NYSE:PBF) Hits New 1-Year Low – Here’s What Happened

PBF Energy Inc. (NYSE:PBF) hit a new 52-week low during trading on Wednesday . The company traded as low as $22.03 and last traded at $21.91, with a volume of 909458 shares trading hands. The stock had previously closed at $22.88.

Analyst Ratings Changes

PBF has been the topic of a number of research reports. The Goldman Sachs Group cut their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. UBS Group lowered their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $29.55.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market cap of $2.52 billion, a P/E ratio of -4.63 and a beta of 1.60. The stock has a fifty day moving average price of $27.30 and a two-hundred day moving average price of $30.36.

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). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a $0.275 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.03%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 300,000 shares of PBF Energy stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $30.82 per share, with a total value of $9,246,000.00. Following the completion of the acquisition, the insider now directly owns 27,863,498 shares in the company, valued at approximately $858,753,008.36. The trade was a 1.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have purchased 1,402,500 shares of company stock worth $40,625,690. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP purchased a new stake in shares of PBF Energy in the 3rd quarter worth $48,000. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the 3rd quarter worth $59,000. Golden State Wealth Management LLC purchased a new stake in shares of PBF Energy in the 4th quarter worth $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after buying an additional 614 shares in the last quarter. Hedge funds and other 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.