PBF Energy (NYSE:PBF) Shares Down 3.4% - Here's Why

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares traded down 3.4% on Tuesday . The company traded as low as $14.79 and last traded at $14.59. 290,989 shares changed hands during trading, a decline of 88% from the average session volume of 2,339,870 shares. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group decreased their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group lowered their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their target price 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. Finally, TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, PBF Energy has an average rating of "Hold" and an average target price of $24.18.

PBF Energy Stock Up 2.0 %

The company has a market capitalization of $1.75 billion, a PE ratio of -3.22 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $19.65 and a 200 day moving average of $26.35.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data 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 during 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%. Equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio is currently -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 15,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average price of $13.98 per share, with a total value of $209,700.00. Following the completion of the acquisition, the insider now directly owns 30,757,998 shares in the company, valued at $429,996,812.04. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 727,000 shares of company stock worth $17,562,580. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in shares of PBF Energy during the 3rd quarter worth about $1,642,000. B. Riley Wealth Advisors Inc. increased its stake in PBF Energy by 35.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company's stock valued at $1,801,000 after purchasing an additional 14,892 shares during the last quarter. Fortitude Family Office LLC raised its holdings in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. West Oak Capital LLC raised its holdings in PBF Energy by 6,069.5% during the fourth quarter. West Oak Capital LLC now owns 12,339 shares of the oil and gas company's stock worth $328,000 after purchasing an additional 12,139 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in shares of PBF Energy by 1,484.7% during the 4th quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company's stock worth $159,000 after buying an additional 5,627 shares during 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.