PBF Energy (NYSE:PBF) Shares Down 2.4% – What’s Next?

PBF Energy Inc. (NYSE:PBF) shares traded down 2.4% on Friday . The stock traded as low as $24.21 and last traded at $24.84. 1,590,792 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 2,154,935 shares. The stock had previously closed at $25.46.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PBF. Morgan Stanley cut their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Monday. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Finally, Bank of America initiated coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.45.

PBF Energy Price Performance

The stock has a market cap of $2.90 billion, a PE ratio of -9.73 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The business has a fifty day moving average of $30.79 and a 200 day moving average of $35.44.

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

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.36%. 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 (DPR) is -42.47%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 40,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was purchased at an average price of $30.93 per share, for a total transaction of $1,237,200.00. Following the completion of the purchase, the insider now directly owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. This trade represents a 0.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 3,318,100 shares of company stock valued at $103,238,331 over the last three months. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Leavell Investment Management Inc. boosted its stake in PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 460 shares during the period. Nisa Investment Advisors LLC increased its position in PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after buying an additional 485 shares during the period. Verdence Capital Advisors LLC lifted its stake in PBF Energy by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 543 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of PBF Energy by 14.2% during the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 546 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of PBF Energy during the second quarter worth about $26,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.