PBF Energy (NYSE:PBF) Reaches New 1-Year Low at $31.30

PBF Energy Inc. (NYSE:PBF) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $31.30 and last traded at $31.47, with a volume of 806670 shares changing hands. The stock had previously closed at $32.33.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research began coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank decreased their price target on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler decreased their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.30.

PBF Energy Trading Up 1.1 %

The stock has a market capitalization of $3.69 billion, a P/E ratio of 2.18 and a beta of 1.56. The stock’s fifty day moving average price is $36.73 and its 200 day moving average price is $46.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. PBF Energy’s revenue was down 4.6% on a year-over-year basis. Research analysts forecast that PBF Energy Inc. will post 1.62 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.17%. PBF Energy’s payout ratio is currently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 805,300 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the completion of the purchase, the insider now owns 20,634,898 shares in the company, valued at $673,110,372.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 2,417,500 shares of company stock valued at $90,094,314 over the last three months. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of PBF Energy during the second quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of PBF Energy during the first quarter valued at $27,000. Creekmur Asset Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $29,000. Finally, CWM LLC raised its stake in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during 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.