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

PBF Energy Inc. (NYSE:PBF) dropped 6.2% during trading on Tuesday . The company traded as low as $54.19 and last traded at $54.27. Approximately 419,955 shares changed hands 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 Analyst Weigh In

PBF has been the subject of a number of recent research reports. Scotiabank increased their price objective 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. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $74.00 in a report on Friday, March 15th. Wells Fargo & Company increased their target price on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Mizuho cut PBF Energy from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, TD Cowen increased their price objective on PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.55.

PBF Energy Stock Performance

The firm’s fifty day moving average price is $54.64 and its 200-day moving average price is $48.84. The company has a market cap of $6.37 billion, a P/E 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.

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 (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the prior year, the firm earned $4.41 earnings per share. The company’s revenue was down 15.7% on a year-over-year basis. As a group, research analysts forecast that PBF Energy Inc. will post 7.39 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is presently 6.08%.

Insider Transactions at PBF Energy

In other news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other PBF Energy 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 sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. In the last three months, insiders sold 180,000 shares of company stock valued at $10,074,600. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares in the last quarter. Rise Advisors LLC bought a new position in PBF Energy in the 1st quarter valued at $27,000. Creekmur Asset Management LLC acquired a new stake in PBF Energy in the fourth quarter worth about $29,000. Fifth Third Bancorp lifted its holdings in PBF Energy by 39.8% in the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 230 shares during the period. Finally, Fortitude Family Office LLC bought a new position in PBF Energy during the fourth quarter worth about $44,000. 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.