PBF Energy (NYSE:PBF) Shares Down 4.6% - What's Next?

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s stock price dropped 4.6% during trading on Wednesday . The stock traded as low as $19.40 and last traded at $19.42. Approximately 721,654 shares changed hands during trading, a decline of 71% from the average daily volume of 2,517,490 shares. The stock had previously closed at $20.35.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PBF shares. Mizuho lifted their target price on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Morgan Stanley dropped 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. The Goldman Sachs Group cut their target price 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. lowered their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company cut their price objective on shares of PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.91.

PBF Energy Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The business's 50 day moving average price is $18.04 and its 200 day moving average price is $23.73. The stock has a market capitalization of $2.14 billion, a P/E ratio of -3.93 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. The business had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company's quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's payout ratio is -12.09%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 16,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $13.88 per share, for a total transaction of $222,080.00. Following the completion of the transaction, the insider now directly owns 30,737,998 shares in the company, valued at $426,643,412.24. This trade represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 176,000 shares of company stock valued at $2,944,180. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PBF. Fifth Third Bancorp grew its stake in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares in the last quarter. Allworth Financial LP grew its position in 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 PBF Energy during the 1st quarter valued at about $35,000. Neo Ivy Capital Management purchased a new stake in shares of PBF Energy in the first quarter valued at approximately $37,000. Finally, Activest Wealth Management increased its stake in shares of PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock valued at $38,000 after buying an additional 1,999 shares during the period. Hedge funds and other institutional investors 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.