PBF Energy (NYSE:PBF) Hits New 52-Week Low After Analyst Downgrade

PBF Energy Inc. (NYSE:PBF)’s share price hit a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $28.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. PBF Energy traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares trading hands. The stock had previously closed at $19.35.

PBF has been the topic of a number of other reports. UBS Group reduced their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $33.00 to $31.00 in a report on Monday, December 16th. Wells Fargo & Company decreased their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Finally, Morgan Stanley cut their price objective 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. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.36.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 155,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the acquisition, the insider now owns 30,249,998 shares in the company, valued at $611,049,959.60. This trade represents a 0.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 651,000 shares of company stock valued at $17,480,400. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC raised its holdings in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares in the last quarter. Quarry LP purchased a new stake in shares of PBF Energy during the 3rd quarter worth about $48,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy during the 4th quarter valued at about $61,000. EverSource Wealth Advisors LLC grew its stake in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in PBF Energy in the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62. The firm’s 50-day moving average is $24.28 and its two-hundred day moving average is $28.24.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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 business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is -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.