PBF Energy (NYSE:PBF) Hits New 1-Year Low on Analyst Downgrade

PBF Energy Inc. (NYSE:PBF) shares reached a new 52-week low during mid-day trading on Wednesday after Mizuho lowered their price target on the stock from $28.00 to $22.00. Mizuho currently has an underperform rating on the stock. PBF Energy traded as low as $18.20 and last traded at $19.21, with a volume of 3660883 shares. The stock had previously closed at $19.09.

Several other equities analysts also recently commented on PBF. Wells Fargo & Company lowered their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley lowered their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. UBS Group lowered their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler cut their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.55.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 20,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $19.09 per share, for a total transaction of $381,800.00. Following the purchase, the insider now owns 30,534,998 shares in the company, valued at $582,913,111.82. This represents a 0.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have bought 671,000 shares of company stock valued at $17,862,200. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. Citigroup Inc. boosted its holdings in PBF Energy by 30.8% during the third quarter. Citigroup Inc. now owns 158,963 shares of the oil and gas company’s stock valued at $4,920,000 after purchasing an additional 37,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PBF Energy by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company’s stock worth $782,000 after buying an additional 620 shares during the period. Captrust Financial Advisors boosted its stake in PBF Energy by 32.8% in the 3rd quarter. Captrust Financial Advisors now owns 22,273 shares of the oil and gas company’s stock valued at $689,000 after buying an additional 5,498 shares in the last quarter. Verition Fund Management LLC acquired a new stake in PBF Energy in the 3rd quarter valued at $1,918,000. Finally, Point72 Hong Kong Ltd grew its position in PBF Energy by 520.6% in the third quarter. Point72 Hong Kong Ltd now owns 16,700 shares of the oil and gas company’s stock valued at $517,000 after acquiring an additional 14,009 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $28.01. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is currently -23.35%.

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.