PBF Energy (NYSE:PBF) Hits New 52-Week Low – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.92 and last traded at $27.92, with a volume of 411914 shares changing hands. The stock had previously closed at $29.26.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PBF shares. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. TD Cowen cut their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Morgan Stanley reduced their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Six research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.09.

PBF Energy Stock Down 4.9 %

The company has a 50-day moving average of $31.25 and a 200-day moving average of $35.82. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -10.81 and a beta of 1.57.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.61 EPS. On average, equities analysts predict that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s payout ratio is presently -42.47%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was acquired at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the purchase, the insider now owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. The trade was a 0.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 3,568,100 shares of company stock valued at $111,183,331 over the last ninety days. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after buying an additional 1,226,909 shares during the last quarter. BNP Paribas Financial Markets raised its position in PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after acquiring an additional 492,053 shares in the last quarter. Recurrent Investment Advisors LLC purchased a new position in PBF Energy during the third quarter valued at approximately $11,516,000. Hsbc Holdings PLC lifted its holdings in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after acquiring an additional 355,329 shares during the period. Finally, Acadian Asset Management LLC boosted its position in PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.