PBF Energy (NYSE:PBF) Reaches New 52-Week Low After Analyst Downgrade

Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $28.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. PBF Energy traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares traded. The stock had previously closed at $19.35.

Several other equities research analysts have also recently weighed in on PBF. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company reduced their target price on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Morgan Stanley cut their price objective on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Finally, Piper Sandler lowered their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, PBF Energy has an average rating of “Hold” and an average target price of $26.36.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 40,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was purchased 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 approximately $806,409,265.06. The trade was a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 651,000 shares of company stock worth $17,480,400 in the last three months. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares in the last quarter. Quarry LP purchased a new stake in PBF Energy in the 3rd quarter worth $48,000. Golden State Wealth Management LLC bought a new position in shares of PBF Energy during the 4th quarter valued at about $61,000. EverSource Wealth Advisors LLC grew its position in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PBF Energy in the fourth quarter worth about $68,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Down 1.9 %

The business has a 50-day moving average of $24.28 and a 200 day moving average of $28.24. The company has a market capitalization of $2.19 billion, a PE ratio of -4.03 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 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 analysts’ expectations of $7.25 billion. Equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 5.80%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

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.