PBF Energy (NYSE:PBF) Trading Down 4.6% - Here's What Happened

PBF Energy Inc. (NYSE:PBF - Get Free Report) traded down 4.6% on Wednesday . The company traded as low as $19.40 and last traded at $19.42. 721,654 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,517,490 shares. The stock had previously closed at $20.35.

Analysts Set New Price Targets

Several equities analysts have commented on PBF shares. Morgan Stanley decreased their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Piper Sandler decreased their target price on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group lowered their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Finally, 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. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of "Hold" and a consensus price target of $22.91.

PBF Energy Stock Performance

The stock has a market cap of $2.20 billion, a PE ratio of -4.04 and a beta of 0.76. The firm's 50-day moving average is $18.04 and its 200 day moving average is $23.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.78%. PBF Energy's dividend payout ratio (DPR) is -12.09%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 15,000 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was purchased at an average price of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the transaction, the insider now owns 30,774,998 shares of the company's stock, valued at $444,390,971.12. The trade was a 0.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 331,000 shares of company stock valued at $6,075,180 over the last ninety days. Corporate insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. lifted its stake in shares of PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock valued at $375,000 after purchasing an additional 364 shares during the period. Yousif Capital Management LLC increased its holdings in PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock valued at $1,084,000 after buying an additional 459 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company's stock valued at $1,931,000 after buying an additional 480 shares in the last quarter. Spire Wealth Management lifted its position in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after acquiring an additional 585 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 614 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.