PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.03 and last traded at $23.71, with a volume of 1415875 shares changing hands. The stock had previously closed at $26.61.
The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.25 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%.
PBF Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Thursday, February 27th. PBF Energy's payout ratio is -42.47%.
Wall Street Analysts Forecast Growth
PBF has been the topic of a number of research analyst reports. TD Cowen cut PBF Energy from a "hold" rating to a "sell" rating and reduced their target price for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $33.00 to $31.00 in a report on Monday, December 16th. The Goldman Sachs Group reduced their price target on PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price target on PBF Energy from $34.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, StockNews.com lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, November 4th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $31.18.
Check Out Our Latest Report on PBF Energy
Insider Buying and Selling at PBF Energy
In other PBF Energy news, insider Control Empresarial De Capital bought 57,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $31.70 per share, with a total value of $1,806,900.00. Following the completion of the purchase, the insider now owns 26,739,498 shares of the company's stock, valued at approximately $847,642,086.60. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 1,968,500 shares of company stock valued at $58,476,810. 5.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new position in PBF Energy during the 4th quarter valued at approximately $344,000. Nuveen Asset Management LLC increased its holdings in shares of PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares in the last quarter. Numerai GP LLC increased its holdings in shares of PBF Energy by 64.7% during the fourth quarter. Numerai GP LLC now owns 14,307 shares of the oil and gas company's stock valued at $380,000 after acquiring an additional 5,619 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of PBF Energy by 18.9% during the fourth quarter. Janus Henderson Group PLC now owns 694,115 shares of the oil and gas company's stock valued at $18,430,000 after acquiring an additional 110,437 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in PBF Energy by 60.8% during the 4th quarter. Cetera Investment Advisers now owns 37,281 shares of the oil and gas company's stock valued at $990,000 after purchasing an additional 14,098 shares in the last quarter. Institutional investors own 96.29% of the company's stock.
PBF Energy Stock Performance
The firm has a market capitalization of $2.67 billion, a P/E ratio of -8.97 and a beta of 1.60. 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 business's 50 day simple moving average is $28.14 and its two-hundred day simple moving average is $31.02.
About PBF Energy
(
Get Free Report)
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.
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