PBF Energy (NYSE:PBF) Stock Price Down 6.9% – Here’s Why

Shares of PBF Energy Inc. (NYSE:PBF) dropped 6.9% on Tuesday . The company traded as low as $27.68 and last traded at $27.4750. Approximately 2,368,099 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 4,681,073 shares. The stock had previously closed at $29.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PBF shares. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a research note on Monday, September 15th. Wall Street Zen raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. UBS Group upped their target price on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Tudor Pickering downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $29.71.

PBF Energy Trading Down 7.7%

The stock has a market capitalization of $3.15 billion, a PE ratio of -5.85, a PEG ratio of 0.92 and a beta of 0.47. The stock’s 50 day moving average price is $32.49 and its 200-day moving average price is $28.69. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the prior year, the firm posted ($1.50) EPS. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is -23.66%.

Insider Buying and Selling

In other PBF Energy news, CAO Steven John Andriola sold 2,579 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $26.19, for a total value of $67,544.01. Following the completion of the transaction, the chief accounting officer directly owned 17,414 shares in the company, valued at $456,072.66. This represents a 12.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul T. Davis sold 50,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 429,624 shares of company stock worth $15,534,465 in the last quarter. 6.70% of the stock is owned by insiders.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Intech Investment Management LLC raised its holdings in PBF Energy by 27.3% during the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock valued at $2,279,000 after buying an additional 25,616 shares during the period. Nomura Holdings Inc. bought a new position in PBF Energy during the second quarter valued at $5,843,000. Pallas Capital Advisors LLC purchased a new stake in shares of PBF Energy in the second quarter valued at $448,000. Ieq Capital LLC purchased a new stake in shares of PBF Energy in the first quarter valued at $192,000. Finally, Creative Planning lifted its holdings in shares of PBF Energy by 64.8% in the 2nd quarter. Creative Planning now owns 92,976 shares of the oil and gas company’s stock worth $2,015,000 after acquiring an additional 36,571 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

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.