PBF Energy (NYSE:PBF) Hits New 12-Month Low – Here’s What Happened

PBF Energy Inc. (NYSE:PBF) reached a new 52-week low during trading on Tuesday . The company traded as low as $19.95 and last traded at $20.13, with a volume of 4659327 shares trading hands. The stock had previously closed at $21.43.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PBF shares. UBS Group dropped their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and decreased their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.55.

PBF Energy Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60. The company has a 50-day simple moving average of $26.94 and a two-hundred day simple moving average of $29.93.

PBF Energy (NYSE:PBF) last released 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). The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.46%. PBF Energy’s payout ratio is currently -23.35%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 341,500 shares of the stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of $26.86 per share, with a total value of $9,172,690.00. Following the completion of the acquisition, the insider now owns 28,814,998 shares of the company’s stock, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 1,207,500 shares of company stock worth $34,557,290. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the stock. Xponance Inc. raised its position in shares of PBF Energy by 2.6% during the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after buying an additional 364 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after acquiring an additional 459 shares during the period. Leavell Investment Management Inc. raised its holdings in PBF Energy by 3.0% during the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 460 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock worth $1,931,000 after purchasing an additional 480 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in PBF Energy by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds 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.