PBF Energy (NYSE:PBF) Reaches New 1-Year Low – Here’s Why

PBF Energy Inc. (NYSE:PBF) hit a new 52-week low on Monday . The stock traded as low as $27.92 and last traded at $27.92, with a volume of 411914 shares traded. The stock had previously closed at $29.26.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PBF shares. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Monday. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, The Goldman Sachs Group dropped their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.09.

PBF Energy Stock Up 0.3 %

The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -10.78 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm’s 50 day simple moving average is $31.06 and its 200-day simple moving average is $35.58.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company’s revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.61 earnings per share. On average, sell-side analysts anticipate that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 265,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $31.87 per share, with a total value of $8,445,550.00. Following the completion of the acquisition, the insider now owns 23,217,398 shares in the company, valued at approximately $739,938,474.26. This represents a 1.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 3,568,100 shares of company stock valued at $111,183,331 in the last three months. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Large investors have recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of PBF Energy in the 2nd quarter worth about $26,000. Quarry LP acquired a new position in PBF Energy during the third quarter worth about $48,000. CWM LLC raised its position in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the third quarter valued at about $59,000. Finally, Blue Trust Inc. grew its position in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.