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

Key Points

• PBF shares gapped down, falling from a close of $42.63 to an open near $39 and trading around $37, a drop of roughly 13.9%.
• Analyst sentiment is mixed but cautious — MarketBeat shows an average rating of "Reduce" with a consensus price target of $33.54, despite several firms raising individual price targets recently.
• Insiders have been net sellers (11.1M shares sold over 90 days, including a 1.1M‑share block), and the company has negative profitability metrics and is forecast to report negative EPS this year, though it pays a 3.0% dividend.

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $42.63, but opened at $39.00. PBF Energy shares last traded at $36.9760, with a volume of 325,348 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of PBF Energy from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Mizuho raised their price objective on shares of PBF Energy from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Piper Sandler raised their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Citigroup raised their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the stock a "neutral" rating in a report on Wednesday, January 14th. Finally, BMO Capital Markets raised their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the stock a "market perform" rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, PBF Energy presently has an average rating of "Reduce" and a consensus target price of $33.54.

PBF Energy Stock Down 13.9%

The business's fifty day moving average price is $41.32 and its 200 day moving average price is $35.16. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -25.08, a PEG ratio of 0.21 and a beta of 0.25. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.64. The business had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted ($2.82) EPS. On average, equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy's payout ratio is presently -74.83%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $46.21, for a total value of $50,831,000.00. Following the transaction, the insider directly owned 22,996,898 shares of the company's stock, valued at $1,062,686,656.58. The trade was a 4.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 11,100,825 shares of company stock valued at $488,323,877. Insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of PBF Energy during the third quarter worth about $10,207,000. First Eagle Investment Management LLC boosted its position in shares of PBF Energy by 7.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company's stock worth $16,519,000 after buying an additional 40,129 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of PBF Energy by 1,232.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company's stock worth $8,058,000 after buying an additional 247,039 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PBF Energy in the 3rd quarter worth about $823,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in PBF Energy by 264.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company's stock valued at $2,922,000 after purchasing an additional 70,312 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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