PBF Energy (NYSE:PBF) Stock Price Down 5.8% - Time to Sell?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Morgan Stanley lowered 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. Wells Fargo & Company lifted their price target on shares of PBF Energy from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 11th. Mizuho lifted their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler reduced their price objective on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. Seven research 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, the company currently has an average rating of "Hold" and an average price target of $24.00.

PBF Energy Price Performance

The company has a market cap of $3.13 billion, a price-to-earnings ratio of -2.97 and a beta of 0.84. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The company's fifty day moving average price is $21.72 and its two-hundred day moving average price is $22.20.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The business had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm's revenue was down 18.3% on a year-over-year basis. On average, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors 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 yield of 4.07%. The ex-dividend date was Thursday, May 15th. PBF Energy's dividend payout ratio is -12.09%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $17.99 per share, with a total value of $872,515.00. Following the acquisition, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its stake in shares of PBF Energy by 5.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company's stock valued at $8,929,000 after purchasing an additional 17,400 shares in the last quarter. Norges Bank acquired a new stake in PBF Energy during the 4th quarter worth approximately $20,896,000. Heartland Advisors Inc. acquired a new stake in PBF Energy during the 4th quarter worth approximately $1,420,000. Nuveen Asset Management LLC boosted its position in PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after buying an additional 276,672 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in PBF Energy during the 4th quarter worth approximately $1,654,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.