PBF Energy (NYSE:PBF) Sets New 52-Week Low - Here's Why

PBF Energy Inc. (NYSE:PBF - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $30.15 and last traded at $30.25, with a volume of 179358 shares. The stock had previously closed at $31.60.

Wall Street Analysts Forecast Growth

PBF has been the subject of several recent analyst reports. Scotiabank decreased their price objective on shares of PBF Energy from $45.00 to $31.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Bank of America started coverage on shares of PBF Energy in a report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price target for the company. Morgan Stanley reduced their price target on shares of PBF Energy from $48.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. downgraded shares of PBF Energy from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, PBF Energy has a consensus rating of "Hold" and an average target price of $36.09.

PBF Energy Trading Down 8.0 %

The company has a market cap of $3.41 billion, a price-to-earnings ratio of 4.97 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The business's 50 day moving average price is $32.59 and its 200-day moving average price is $41.07.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. On average, research analysts forecast that PBF Energy Inc. will post -2.27 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, August 15th. PBF Energy's dividend payout ratio (DPR) is currently 16.64%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 307,000 shares of the stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $39.22 per share, for a total transaction of $12,040,540.00. Following the transaction, the insider now owns 18,079,598 shares of the company's stock, valued at $709,081,833.56. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 4,239,400 shares of company stock worth $138,211,387 in the last quarter. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. National Bank of Canada FI bought a new position in shares of PBF Energy in the 2nd quarter valued at about $26,000. CWM LLC boosted its stake in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of PBF Energy by 1,291.1% in the 3rd 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. Farther Finance Advisors LLC boosted its stake in shares of PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock valued at $81,000 after purchasing an additional 573 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of PBF Energy in the 1st quarter valued at about $82,000. 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.