PBF Energy (NYSE:PBF) Stock Price Down 5.5% – What’s Next?

PBF Energy Inc. (NYSE:PBF) dropped 5.5% during trading on Tuesday . The company traded as low as $27.80 and last traded at $28.2880. Approximately 527,791 shares changed hands during trading, a decline of 83% from the average daily volume of 3,137,344 shares. The stock had previously closed at $29.93.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PBF shares. TD Cowen lifted their target price on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Friday, October 31st. Cowen reissued a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Tudor Pickering downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research report on Monday, December 8th. Finally, Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $38.00 in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $29.38.

PBF Energy Stock Performance

The firm has a market capitalization of $3.15 billion, a P/E ratio of -5.85 and a beta of 0.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The firm has a 50-day moving average price of $33.43 and a two-hundred day moving average price of $28.02.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter last year, the firm posted ($1.50) EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. On average, analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were issued a $0.275 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. PBF Energy’s payout ratio is presently -23.66%.

Insider Activity at PBF Energy

In other news, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the senior vice president owned 192,391 shares in the company, valued at approximately $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $36.44, for a total value of $1,822,000.00. Following the completion of the sale, the senior vice president owned 200,744 shares of the company’s stock, valued at $7,315,111.36. The trade was a 19.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 507,045 shares of company stock worth $18,193,421 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of PBF Energy by 54.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 936 shares during the period. Charles Schwab Investment Management Inc. raised its stake in PBF Energy by 12.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock worth $31,981,000 after buying an additional 182,456 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PBF Energy in the 1st quarter valued at $403,000. Invesco Ltd. increased its holdings in shares of PBF Energy by 13.4% in the 1st quarter. Invesco Ltd. now owns 1,144,734 shares of the oil and gas company’s stock valued at $21,853,000 after acquiring an additional 135,318 shares during the period. Finally, Nuveen LLC bought a new position in shares of PBF Energy in the 1st quarter worth $13,600,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.