PBF Energy (NYSE:PBF) Shares Down 4.9% – Time to Sell?

Shares of PBF Energy Inc. (NYSE:PBF) dropped 4.9% during mid-day trading on Friday . The stock traded as low as $20.78 and last traded at $20.82. Approximately 1,619,192 shares were traded during trading, a decline of 22% from the average daily volume of 2,079,949 shares. The stock had previously closed at $21.89.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PBF. Wells Fargo & Company reduced their price target 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 PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a report on Monday, December 16th. 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 note on Wednesday, February 19th. TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price objective on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.36.

PBF Energy Stock Down 4.9 %

The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $25.53 and its 200-day moving average price is $28.79. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -4.42 and a beta of 1.62.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. Sell-side 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.28%. PBF Energy’s payout ratio is -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 70,000 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $1,789,200.00. Following the acquisition, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have purchased 721,000 shares of company stock worth $19,269,600. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PBF. Xponance Inc. boosted its holdings in PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after purchasing an additional 364 shares during the last quarter. Yousif Capital Management LLC grew its holdings in 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 worth $1,084,000 after purchasing an additional 459 shares during the period. CANADA LIFE ASSURANCE Co increased its position in PBF Energy by 0.7% during 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 buying an additional 480 shares during the last quarter. Spire Wealth Management raised its stake in PBF Energy by 28.2% in the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 585 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in PBF Energy by 33.2% during the 4th 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 during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.