PBF Energy (NYSE:PBF) Shares Down 3.4% – Should You Sell?

PBF Energy Inc. (NYSE:PBF)’s share price fell 3.4% on Tuesday . The stock traded as low as $14.79 and last traded at $14.59. 290,989 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,339,870 shares. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

PBF has been the subject of several research reports. JPMorgan Chase & Co. reduced 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. Morgan Stanley cut their price objective on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Piper Sandler cut their price target 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. UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $24.18.

PBF Energy Stock Performance

The company has a market cap of $1.67 billion, a PE ratio of -3.07 and a beta of 1.15. The stock’s 50 day simple moving average is $20.73 and its two-hundred day simple moving average is $26.78. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors 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 dividend on an annualized basis and a yield of 7.61%. PBF Energy’s dividend payout ratio (DPR) is -23.35%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 100,000 shares of PBF Energy stock in a transaction on Wednesday, January 22nd. The stock was purchased at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the purchase, the insider now directly owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 712,000 shares of company stock valued at $17,345,980. Insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its position 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 acquiring an additional 1,056 shares in the last quarter. Parallel Advisors LLC grew its position in PBF Energy by 80.4% during the 1st quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 1,085 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PBF Energy during the 4th quarter valued at $61,000. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 614 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of PBF Energy by 61.7% during the first quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 1,320 shares in the last quarter. 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.