PBF Energy (NYSE:PBF) Sets New 1-Year Low on Analyst Downgrade

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday after Mizuho lowered their price target on the stock from $28.00 to $22.00. Mizuho currently has an underperform rating on the stock. PBF Energy traded as low as $18.20 and last traded at $19.21, with a volume of 3660883 shares. The stock had previously closed at $19.09.

Several other research analysts have also recently weighed in on PBF. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley lowered their price target on shares of PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Finally, The Goldman Sachs Group cut their price objective on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, PBF Energy currently has an average rating of "Hold" and an average target price of $25.55.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 20,000 shares of the stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the completion of the transaction, the insider now owns 30,534,998 shares in the company, valued at approximately $582,913,111.82. The trade was a 0.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 671,000 shares of company stock worth $17,862,200. Corporate insiders own 6.70% of the company's stock.

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Institutional Trading of PBF Energy

A number of large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after buying an additional 1,272,254 shares during the last quarter. American Century Companies Inc. raised its stake in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after acquiring an additional 187,351 shares during the last quarter. Two Sigma Investments LP lifted its position in PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after acquiring an additional 184,194 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PBF Energy by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock worth $39,634,000 after acquiring an additional 78,045 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of PBF Energy by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after purchasing an additional 562,287 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Performance

The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $23.34 and a 200-day moving average price of $27.87. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -3.18 and a beta of 1.62.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. On average, analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 7.35%. PBF Energy's payout ratio is currently -23.35%.

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.