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

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

Analysts Set New Price Targets

Several brokerages have recently commented on PBF. Morgan Stanley decreased their target price on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. TD Cowen dropped their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, March 11th. Scotiabank dropped their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group lowered their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Mizuho lifted their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.18.

PBF Energy Price Performance

The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -2.58 and a beta of 0.82. The stock has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $22.84.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.27 billion. During the same period last year, the firm earned $0.85 EPS. The company's quarterly revenue was down 18.3% on a year-over-year basis. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.68%. PBF Energy's dividend payout ratio (DPR) is -12.09%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 16,000 shares of the company's stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $13.88 per share, with a total value of $222,080.00. Following the transaction, the insider now owns 30,737,998 shares of the company's stock, valued at approximately $426,643,412.24. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 224,500 shares of company stock valued at $3,816,695. Corporate insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

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

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