PBF Energy (NYSE:PBF) Shares Down 4.8% - Time to Sell?

Key Points

• PBF Energy shares fell 4.8% during trading, with a significant drop in trading volume, which was down 89% from average levels.
• Analysts have mixed ratings for the stock, with one Buy, seven Hold, and six Sell ratings, leading to an average target price of $26.38.
• The company's recent earnings report showed a loss of ($1.03) EPS, but revenue of $7.48 billion surpassed estimates, despite a 14.4% decline compared to the previous year's quarter.

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares dropped 4.8% during trading on Monday . The stock traded as low as $30.86 and last traded at $31.06. Approximately 366,779 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 3,259,242 shares. The stock had previously closed at $32.62.

Wall Street Analyst Weigh In

PBF has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Tudor Pickering lowered PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. UBS Group upped their target price on PBF Energy from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Mizuho upped their target price on PBF Energy from $23.00 to $26.00 and gave the stock an "underperform" rating in a research note on Monday, September 15th. Finally, Bank of America upped their price target on shares of PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $26.38.

PBF Energy Stock Down 7.0%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The company's 50-day moving average is $26.18 and its two-hundred day moving average is $22.21. The company has a market cap of $3.51 billion, a P/E ratio of -3.52 and a beta of 0.97.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the previous year, the firm posted ($0.54) EPS. PBF Energy's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its position 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 during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in PBF Energy by 761.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,248 shares in the last quarter. Allworth Financial LP increased its holdings in PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PBF Energy in the first quarter valued at $35,000. Finally, Neo Ivy Capital Management purchased a new position in PBF Energy in the first quarter valued at $37,000. 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.

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