PBF Energy (NYSE:PBF) Hits New 52-Week Low Following Weak Earnings

Shares of PBF Energy Inc. (NYSE:PBF) hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $22.03 and last traded at $23.71, with a volume of 1415875 shares. The stock had previously closed at $26.61.

The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.72%. PBF Energy’s dividend payout ratio is currently -42.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Bank of America assumed coverage on PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company cut PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus price target of $32.00.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 57,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $31.70 per share, with a total value of $1,806,900.00. Following the completion of the purchase, the insider now directly owns 26,739,498 shares in the company, valued at $847,642,086.60. This represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 1,968,500 shares of company stock valued at $58,476,810. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares in the last quarter. Quarry LP purchased a new stake in PBF Energy in the third quarter worth approximately $48,000. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy in the third quarter worth approximately $59,000. Golden State Wealth Management LLC purchased a new stake in PBF Energy in the fourth quarter worth approximately $61,000. Finally, EverSource Wealth Advisors LLC lifted its position in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 12.3 %

The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $28.43 and a two-hundred day simple moving average of $31.32. The stock has a market cap of $2.69 billion, a P/E ratio of -9.01 and a beta of 1.60.

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.