PBF Energy (NYSE:PBF) Stock Price Down 4% - What's Next?

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price traded down 4% on Wednesday . The stock traded as low as $19.08 and last traded at $18.77. 387,333 shares were traded during trading, a decline of 87% from the average session volume of 2,933,923 shares. The stock had previously closed at $19.54.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho lifted their price target 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. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen cut their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating, seven have assigned 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 a consensus target price of $22.91.

PBF Energy Stock Performance

The firm's 50 day moving average price is $18.00 and its two-hundred day moving average price is $23.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market cap of $2.09 billion, a PE ratio of -3.84 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm's quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 6.08%. PBF Energy's dividend payout ratio is presently -12.09%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 20,000 shares of PBF Energy stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the acquisition, the insider now owns 30,534,998 shares of the company's stock, valued at $582,913,111.82. This trade represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired 176,000 shares of company stock valued at $2,944,180 in the last 90 days. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its holdings in shares of PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after acquiring an additional 3,612,447 shares in the last quarter. Norges Bank purchased a new stake in shares of PBF Energy in the fourth quarter valued at about $20,896,000. Nuveen LLC purchased a new stake in shares of PBF Energy in the first quarter valued at about $13,600,000. Deutsche Bank AG boosted its holdings in shares of PBF Energy by 697.2% in the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after acquiring an additional 686,103 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its holdings in shares of PBF Energy by 154.0% in the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after acquiring an additional 573,161 shares in the last quarter. 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.