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

PBF Energy Inc. (NYSE:PBF) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.95 and last traded at $20.13, with a volume of 4659327 shares traded. The stock had previously closed at $21.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PBF shares. 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 report on Tuesday, December 10th. Wells Fargo & Company cut their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price objective for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, UBS Group cut their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.55.

PBF Energy Trading Down 2.1 %

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 $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60. The business has a 50 day simple moving average of $26.73 and a 200 day simple moving average of $29.75.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (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 firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 155,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $20.20 per share, with a total value of $3,131,000.00. Following the purchase, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This trade represents a 0.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have bought 1,062,500 shares of company stock worth $28,442,290. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. T. Rowe Price Investment Management Inc. increased its stake in shares of PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock worth $56,191,000 after purchasing an additional 1,272,254 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of PBF Energy by 391.9% in the third 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 purchasing an additional 1,226,909 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy in the fourth quarter valued at $20,896,000. Recurrent Investment Advisors LLC grew its stake in PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company’s stock valued at $25,096,000 after buying an additional 573,161 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in PBF Energy by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after buying an additional 562,287 shares during the last quarter. 96.29% of the stock is 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.