PBF Energy (NYSE:PBF) Reaches New 1-Year Low - Here's What Happened

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $22.03 and last traded at $21.91, with a volume of 909458 shares traded. The stock had previously closed at $22.88.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBF. Mizuho lowered PBF Energy from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, December 10th. StockNews.com lowered PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. TD Cowen lowered PBF Energy from a "hold" rating to a "sell" rating and decreased their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their target price on PBF Energy from $34.00 to $25.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.55.

PBF Energy Stock Down 0.3 %

The stock has a market cap of $2.47 billion, a PE ratio of -4.54 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company's 50-day moving average price is $27.05 and its 200 day moving average price is $30.04.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. 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 net margin of 1.61% and a negative return on equity of 7.40%. As a group, analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.14%. PBF Energy's dividend payout ratio (DPR) is presently -23.35%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 341,500 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the purchase, the insider now owns 28,814,998 shares in the company, valued at $773,970,846.28. The trade was a 1.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 1,207,500 shares of company stock worth $34,557,290. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PBF Energy in the 4th quarter worth approximately $3,132,000. GF Fund Management CO. LTD. bought a new position in PBF Energy in the 4th quarter worth approximately $803,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PBF Energy by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company's stock worth $6,622,000 after purchasing an additional 17,404 shares during the period. iSAM Funds UK Ltd bought a new position in PBF Energy in the 4th quarter worth approximately $508,000. Finally, Vident Advisory LLC boosted its stake in PBF Energy by 9.5% in the 4th quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company's stock worth $213,000 after purchasing an additional 698 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.