PBF Energy (NYSE:PBF) Stock Price Down 6.2%

Shares of PBF Energy Inc. (NYSE:PBF) were down 6.2% during mid-day trading on Tuesday . The company traded as low as $54.19 and last traded at $54.27. Approximately 419,955 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,123,228 shares. The stock had previously closed at $57.88.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PBF shares. Citigroup began coverage on PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating for the company. Scotiabank raised their price target on PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Mizuho cut PBF Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Wells Fargo & Company increased their price objective on PBF Energy from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $74.00 in a report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.55.

PBF Energy Price Performance

The stock has a market cap of $6.37 billion, a PE ratio of 3.31 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $54.64 and a two-hundred day simple moving average of $48.84.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. PBF Energy’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.41 earnings per share. Research analysts forecast that PBF Energy Inc. will post 7.39 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a $0.25 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. PBF Energy’s dividend payout ratio is currently 6.08%.

Insider Buying and Selling

In related news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the transaction, the senior vice president now owns 160,338 shares of the company’s stock, valued at $8,829,813.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,000 shares of company stock worth $10,074,600. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBF. Privium Fund Management UK Ltd lifted its holdings in PBF Energy by 55.9% during the first quarter. Privium Fund Management UK Ltd now owns 10,639 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 3,814 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in PBF Energy by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 470,470 shares of the oil and gas company’s stock valued at $27,085,000 after purchasing an additional 1,336 shares during the last quarter. Center For Asset Management LLC grew its position in PBF Energy by 3.9% in the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 228 shares during the period. Leavell Investment Management Inc. increased its position in shares of PBF Energy by 6.3% during the 1st quarter. Leavell Investment Management Inc. now owns 10,100 shares of the oil and gas company’s stock worth $581,000 after purchasing an additional 600 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of PBF Energy in the 1st quarter valued at approximately $396,000. 96.29% of the stock is currently owned by hedge funds and other 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.