PBF Energy (NYSE:PBF) Sets New 1-Year Low – Here’s Why

PBF Energy Inc. (NYSE:PBF) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares changing hands. The stock had previously closed at $19.35.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PBF shares. Piper Sandler cut their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company cut their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. UBS Group lowered their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.36.

PBF Energy Trading Down 0.7 %

The company’s fifty day simple moving average is $24.74 and its 200-day simple moving average is $28.39. The firm has a market capitalization of $2.22 billion, a PE ratio of -4.08 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

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 firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. As a group, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was bought at an average price of $27.47 per share, with a total value of $1,098,800.00. Following the completion of the purchase, the insider now directly owns 29,355,998 shares in the company, valued at $806,409,265.06. This represents a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 651,000 shares of company stock valued at $17,480,400. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP acquired a new stake in PBF Energy during the 3rd quarter worth approximately $48,000. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy in the fourth quarter worth $61,000. EverSource Wealth Advisors LLC grew its stake in shares of PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of PBF Energy during the fourth quarter worth $68,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.