PBF Energy (NYSE:PBF) Sets New 52-Week Low After Analyst Downgrade

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price reached a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $28.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. PBF Energy traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares. The stock had previously closed at $19.35.

A number of other brokerages have also recently commented on PBF. Piper Sandler decreased their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company decreased their price objective on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Mizuho cut PBF Energy from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $33.00 to $31.00 in a report on Monday, December 16th. TD Cowen decreased their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. dropped their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.36.

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Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were bought at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the transaction, the insider now owns 29,084,998 shares of the company's stock, valued at $860,915,940.80. This trade represents a 0.35 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 651,000 shares of company stock worth $17,480,400 over the last ninety days. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its stake in PBF Energy by 150.7% during the 4th 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 acquiring an additional 1,272,254 shares during the period. American Century Companies Inc. lifted its position in PBF Energy by 11.2% during the fourth 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 purchasing an additional 187,351 shares during the period. Two Sigma Investments LP boosted its holdings in PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after purchasing an additional 184,194 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $39,634,000 after buying an additional 78,045 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in PBF Energy by 60.4% during 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 buying an additional 562,287 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

The stock has a market capitalization of $2.20 billion, a P/E ratio of -4.05 and a beta of 1.62. 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 firm has a fifty day moving average price of $24.28 and a two-hundred day moving average price of $28.19.

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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate 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 expect 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 was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.77%. 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.