PBF Energy (NYSE:PBF) Shares Down 6.3% – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s share price traded down 6.3% during trading on Wednesday . The company traded as low as $26.78 and last traded at $26.93. 1,284,178 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 2,003,560 shares. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $39.00 to $34.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their target price for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Finally, Bank of America initiated coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective for the company. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.00.

PBF Energy Trading Down 7.3 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a fifty day simple moving average of $28.52 and a 200-day simple moving average of $31.36. The firm has a market cap of $3.07 billion, a P/E ratio of -10.29 and a beta of 1.60.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 57,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the acquisition, the insider now owns 26,739,498 shares of the company’s stock, valued at $847,642,086.60. This represents a 0.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 1,968,500 shares of company stock valued at $58,476,810. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Neo Ivy Capital Management purchased a new stake in PBF Energy in the 3rd quarter worth about $2,404,000. Dakota Wealth Management bought a new position in PBF Energy during the third quarter worth about $694,000. Intech Investment Management LLC increased its stake in shares of PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after purchasing an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of PBF Energy by 44.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares during the period. Finally, Bridgewater Associates LP lifted its stake in shares of PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after buying an additional 26,952 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.