PBF Energy (NYSE:PBF) Trading Down 2.4% - Time to Sell?

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares dropped 2.4% during trading on Friday . The stock traded as low as $24.21 and last traded at $24.84. Approximately 1,590,792 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 2,154,935 shares. The stock had previously closed at $25.46.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen cut PBF Energy from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $27.00 to $20.00 in a research note on Friday. StockNews.com lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. The Goldman Sachs Group cut their price objective on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered shares of PBF Energy from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Finally, Mizuho downgraded shares of PBF Energy from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Monday. Seven research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, PBF Energy presently has an average rating of "Hold" and an average price target of $32.45.

PBF Energy Price Performance

The stock has a 50 day moving average of $30.63 and a 200-day moving average of $35.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The company has a market cap of $2.90 billion, a PE ratio of -9.71 and a beta of 1.57.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.61 earnings per share. Equities analysts predict that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.275 dividend. This is an increase from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Wednesday, November 13th. PBF Energy's dividend payout ratio is -42.47%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 341,500 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was bought at an average cost of $26.86 per share, with a total value of $9,172,690.00. Following the completion of the acquisition, the insider now owns 28,814,998 shares of the company's stock, 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 the SEC website. Insiders acquired a total of 3,659,600 shares of company stock valued at $112,411,021 over the last 90 days. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its holdings in PBF Energy by 35.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company's stock worth $1,801,000 after buying an additional 14,892 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of PBF Energy in the third quarter worth about $1,642,000. Neo Ivy Capital Management purchased a new stake in shares of PBF Energy during the 3rd quarter worth about $2,404,000. Vestcor Inc grew its position in shares of PBF Energy by 1,513.2% during the 3rd quarter. Vestcor Inc now owns 14,712 shares of the oil and gas company's stock valued at $455,000 after acquiring an additional 13,800 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of PBF Energy by 108.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company's stock valued at $1,359,000 after purchasing an additional 22,852 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

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.