PBF Energy (NYSE:PBF) Stock Price Down 3.3%

PBF Energy Inc. (NYSE:PBF)’s stock price dropped 3.3% on Monday . The stock traded as low as $49.55 and last traded at $49.76. Approximately 567,209 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,087,167 shares. The stock had previously closed at $51.47.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Scotiabank boosted their price objective on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Citigroup started coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, TD Cowen lowered their price target on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.27.

PBF Energy Price Performance

The firm has a fifty day moving average of $55.35 and a two-hundred day moving average of $49.16. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.81 billion, a PE ratio of 3.40 and a beta of 1.73.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, May 15th. PBF Energy’s dividend payout ratio is 6.92%.

Insider Buying and Selling

In other news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were 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 directly owns 160,338 shares of the company’s stock, valued at $8,829,813.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $6,255,829.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction on 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. Insiders have sold a total of 180,000 shares of company stock valued at $10,074,600 over the last three months. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Victory Capital Management Inc. raised its position in shares of PBF Energy by 527.4% in the 3rd quarter. Victory Capital Management Inc. now owns 526,671 shares of the oil and gas company’s stock worth $28,193,000 after acquiring an additional 442,730 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in PBF Energy in the fourth quarter worth $1,829,000. Foundry Partners LLC purchased a new stake in PBF Energy in the fourth quarter worth $3,664,000. HITE Hedge Asset Management LLC purchased a new position in PBF Energy during the fourth quarter valued at $3,936,000. Finally, Jump Financial LLC lifted its position in PBF Energy by 57.0% during the fourth quarter. Jump Financial LLC now owns 25,565 shares of the oil and gas company’s stock valued at $1,124,000 after buying an additional 9,284 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.