PBF Energy (NYSE:PBF) Hits New 12-Month Low – Here’s What Happened

PBF Energy Inc. (NYSE:PBF)’s stock price reached 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on PBF shares. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the company from $33.00 to $31.00 in a report on Monday, December 16th. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Friday, December 20th. StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. The Goldman Sachs Group decreased their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and an average target price of $29.55.

PBF Energy Stock Down 4.5 %

The business has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $30.36. The company has a market cap of $2.52 billion, a PE ratio of -4.63 and a beta of 1.60. 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 issued its quarterly 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). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

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

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 150,000 shares of PBF Energy stock in a transaction dated Thursday, February 6th. The shares were bought at an average cost of $28.70 per share, with a total value of $4,305,000.00. Following the purchase, the insider now owns 29,505,998 shares in the company, valued at $846,822,142.60. This trade represents a 0.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 1,402,500 shares of company stock valued at $40,625,690. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently added to or reduced their stakes in PBF. Creative Planning boosted its position in shares of PBF Energy by 50.3% during the third quarter. Creative Planning now owns 26,898 shares of the oil and gas company’s stock valued at $832,000 after buying an additional 9,003 shares during the last quarter. Blue Trust Inc. raised its position in PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the last quarter. International Assets Investment Management LLC boosted its position in PBF Energy by 539.7% during the third quarter. International Assets Investment Management LLC now owns 20,118 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 16,973 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PBF Energy by 1.7% during the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after purchasing an additional 485 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of PBF Energy by 27.9% during the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after buying an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.