PBF Energy (NYSE:PBF) Shares Down 6.3% - Here's What Happened

PBF Energy Inc. (NYSE:PBF - Get Free Report) dropped 6.3% on Wednesday . The company traded as low as $26.78 and last traded at $26.93. Approximately 1,284,178 shares changed hands during trading, a decline of 36% from the average daily volume of 2,003,560 shares. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of research reports. TD Cowen cut shares of 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 note on Friday, December 20th. StockNews.com cut shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of PBF Energy from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their target price on shares of PBF Energy from $34.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday. Seven 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 stock has a consensus rating of "Hold" and a consensus target price of $31.18.

PBF Energy Trading Up 0.1 %

The company has a market cap of $2.67 billion, a price-to-earnings ratio of -8.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The business's fifty day moving average price is $28.14 and its 200 day moving average price is $31.09.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results 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). The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. Research analysts anticipate that PBF Energy Inc. will post -3.75 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 4.73%. PBF Energy's payout ratio is -42.47%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 57,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 1,968,500 shares of company stock worth $58,476,810 over the last quarter. Company insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in the stock. Voleon Capital Management LP acquired a new position in shares of PBF Energy during the fourth quarter valued at about $658,000. AQR Capital Management LLC increased its position in shares of PBF Energy by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 654,093 shares of the oil and gas company's stock worth $17,144,000 after acquiring an additional 140,804 shares in the last quarter. Northern Trust Corp increased its position in shares of PBF Energy by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,378,956 shares of the oil and gas company's stock worth $36,611,000 after acquiring an additional 50,541 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of PBF Energy during the fourth quarter worth about $2,344,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of PBF Energy during the fourth quarter worth about $3,753,000. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Company Profile

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.