PBF Energy (NYSE:PBF) Stock Price Down 3.8% - Time to Sell?

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) fell 3.8% on Wednesday . The company traded as low as $23.58 and last traded at $23.48. 907,318 shares traded hands during trading, a decline of 65% from the average session volume of 2,618,925 shares. The stock had previously closed at $24.39.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PBF. Scotiabank cut their target price on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Piper Sandler cut their target price on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. Finally, TD Cowen cut their target price on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $23.18.

PBF Energy Price Performance

The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -2.62 and a beta of 0.82. The company has a fifty day moving average price of $19.21 and a two-hundred day moving average price of $22.72. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the company earned $0.85 earnings per share. The company's revenue for the quarter was down 18.3% on a year-over-year basis. On average, equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Thursday, May 15th. PBF Energy's dividend payout ratio is currently -12.09%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 110,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $17.40 per share, for a total transaction of $1,914,000.00. Following the acquisition, the insider now directly owns 30,696,998 shares of the company's stock, valued at $534,127,765.20. This represents a 0.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders purchased 224,500 shares of company stock worth $3,816,695. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in shares of PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP increased its holdings in shares of PBF Energy by 194.3% in the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PBF Energy in the 1st quarter valued at approximately $35,000. Neo Ivy Capital Management bought a new stake in shares of PBF Energy in the 1st quarter valued at approximately $37,000. Finally, Activest Wealth Management increased its holdings in shares of PBF Energy by 199,900.0% in the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 1,999 shares during the last quarter. Hedge funds and other institutional investors 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.