PBF Energy (NYSE:PBF) Trading Down 5.8% - Here's Why

PBF Energy Inc. (NYSE:PBF - Get Free Report) was down 5.8% during mid-day trading on Monday . The company traded as low as $26.79 and last traded at $26.99. Approximately 385,371 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,727,441 shares. The stock had previously closed at $28.65.

Analyst Ratings Changes

A number of analysts have recently issued reports on PBF shares. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Scotiabank reiterated a "sector perform" rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Mizuho raised their target price on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company raised their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of "Hold" and an average target price of $25.00.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. The stock's 50-day simple moving average is $22.02 and its 200 day simple moving average is $22.25. The stock has a market capitalization of $2.87 billion, a P/E ratio of -2.73 and a beta of 0.84.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping 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 company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company's revenue was down 18.3% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio is currently -12.09%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the acquisition, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. lifted its holdings in shares of PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after buying an additional 364 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake 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 purchasing an additional 480 shares in the last quarter. Farther Finance Advisors LLC raised its stake in PBF Energy by 25.0% in the second quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company's stock valued at $57,000 after purchasing an additional 522 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Signaturefd LLC raised its stake in PBF Energy by 8.1% in the second quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company's stock valued at $192,000 after purchasing an additional 664 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.