PBF Energy (NYSE:PBF) Shares Down 4.9% – Should You Sell?

PBF Energy Inc. (NYSE:PBF)’s share price was down 4.9% during mid-day trading on Friday . The stock traded as low as $20.78 and last traded at $20.82. Approximately 1,619,192 shares changed hands during trading, a decline of 22% from the average daily volume of 2,079,949 shares. The stock had previously closed at $21.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler reduced their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Morgan Stanley lowered their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group cut their target price 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. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and a consensus price target of $27.36.

PBF Energy Stock Down 5.1 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock has a fifty day moving average price of $25.39 and a 200-day moving average price of $28.67. The firm has a market cap of $2.40 billion, a PE ratio of -4.41 and a beta of 1.62.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 100,000 shares of PBF Energy stock in a transaction dated Tuesday, January 14th. The stock was bought at an average cost of $28.62 per share, with a total value of $2,862,000.00. Following the purchase, the insider now owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 721,000 shares of company stock worth $19,269,600. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

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