PBF Energy (NYSE:PBF) Shares Gap Down – What’s Next?

PBF Energy Inc. (NYSE:PBF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $41.89, but opened at $39.18. PBF Energy shares last traded at $39.4350, with a volume of 153,008 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. Scotiabank increased their price target on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. TD Cowen dropped their price target on PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, April 27th. Citigroup increased their price target on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Mizuho raised their target price on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $36.46.

PBF Energy Trading Down 4.6%

The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.15 and a beta of 0.12. The firm has a 50-day moving average of $41.59 and a 200 day moving average of $37.40.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the business posted ($3.53) earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy Inc. will post 6.91 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 100,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $43.17, for a total transaction of $4,317,000.00. Following the completion of the sale, the insider directly owned 18,117,698 shares of the company’s stock, valued at $782,141,022.66. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James E. Fedena sold 77,085 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the sale, the senior vice president directly owned 139,016 shares of the company’s stock, valued at approximately $6,895,193.60. This represents a 35.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,888,225 shares of company stock valued at $327,909,811. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently modified their holdings of PBF. First Eagle Investment Management LLC boosted its position in PBF Energy by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after purchasing an additional 40,129 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in PBF Energy during the third quarter valued at $823,000. Quantbot Technologies LP acquired a new stake in PBF Energy during the third quarter valued at $1,546,000. Goldman Sachs Group Inc. boosted its position in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in PBF Energy during the fourth quarter valued at $1,485,000. 96.29% of the stock is owned by institutional investors.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.