PBF Energy (NYSE:PBF) Stock Price Down 5.3%

PBF Energy Inc. (NYSE:PBF - Get Free Report) dropped 5.3% on Tuesday . The stock traded as low as $34.75 and last traded at $34.80. Approximately 459,870 shares traded hands during trading, a decline of 78% from the average daily volume of 2,072,597 shares. The stock had previously closed at $36.74.

Analyst Ratings Changes

A number of brokerages have recently commented on PBF. Piper Sandler lowered their price objective on PBF Energy from $54.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $58.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, July 2nd. UBS Group dropped their target price on PBF Energy from $57.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, August 13th. Mizuho lowered their price objective on PBF Energy from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group cut their target price on PBF Energy from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, July 1st. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, PBF Energy currently has an average rating of "Hold" and an average target price of $53.80.

PBF Energy Stock Down 7.3 %

The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average is $40.75 and its two-hundred day moving average is $48.20.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The business's quarterly revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts predict that PBF Energy Inc. will post 1.63 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. PBF Energy's dividend payout ratio is presently 6.92%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 84,000 shares of PBF Energy stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average price of $44.96 per share, for a total transaction of $3,776,640.00. Following the completion of the acquisition, the insider now owns 14,429,198 shares of the company's stock, valued at $648,736,742.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders purchased 2,448,100 shares of company stock valued at $106,825,157. Insiders own 5.30% of the company's stock.

Institutional Trading of PBF Energy

Large investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC purchased a new position in shares of PBF Energy in the fourth quarter valued at $3,664,000. Hennessy Advisors Inc. boosted its position in PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company's stock valued at $33,329,000 after buying an additional 89,900 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PBF Energy by 763.4% during the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company's stock valued at $12,008,000 after acquiring an additional 184,426 shares in the last quarter. Norges Bank purchased a new stake in shares of PBF Energy during the fourth quarter worth about $54,832,000. Finally, Acadian Asset Management LLC lifted its stake in shares of PBF Energy by 4.8% in the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company's stock worth $60,689,000 after acquiring an additional 48,525 shares in the last quarter. 96.29% of the stock is currently 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.