PBF Energy (NYSE:PBF) Shares Gap Down – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $39.39, but opened at $37.51. PBF Energy shares last traded at $36.8450, with a volume of 438,970 shares.

Analysts Set New Price Targets

PBF has been the topic of several analyst reports. Cowen reissued a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. TD Cowen lifted their target price on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Friday, October 31st. The Goldman Sachs Group increased their price target on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the stock an “underweight” rating in a research note on Friday, October 3rd. Finally, Scotiabank upped their price objective on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of $28.92.

PBF Energy Stock Performance

The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.50 and a beta of 0.79. The stock’s 50-day simple moving average is $32.60 and its 200 day simple moving average is $26.43.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.PBF Energy’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.50) EPS. Analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.2%. PBF Energy’s dividend payout ratio is currently -23.66%.

Insider Transactions at PBF Energy

In other news, SVP Connor Thomas L. O sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total transaction of $2,041,500.00. Following the sale, the senior vice president directly owned 205,340 shares of the company’s stock, valued at $8,384,032.20. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This represents a 20.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 507,045 shares of company stock worth $18,193,421. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PBF. Smartleaf Asset Management LLC raised its position in shares of PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 589 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the period. Hantz Financial Services Inc. increased its position in PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares during the period. Quent Capital LLC bought a new stake in PBF Energy during the 3rd quarter worth about $41,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,248 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.