PBF Energy (NYSE:PBF) Stock Price Up 4.5% After Dividend Announcement

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s stock price traded up 4.5% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $18.32 and last traded at $18.32. 1,238,193 shares changed hands during trading, a decline of 49% from the average session volume of 2,428,965 shares. The stock had previously closed at $17.53.

The newly announced dividend which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 5.42%. PBF Energy's dividend payout ratio (DPR) is presently -12.09%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group decreased their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. TD Cowen decreased their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. UBS Group dropped their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Piper Sandler decreased their price target on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their price objective on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.82.

PBF Energy Stock Performance

The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.34 billion, a P/E ratio of -4.31 and a beta of 0.76. The business has a fifty day moving average price of $17.99 and a 200-day moving average price of $24.79.

PBF Energy (NYSE:PBF - Get Free Report) last issued 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 7.40% and a negative net margin of 1.61%. The business had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. PBF Energy's revenue was down 18.3% on a year-over-year basis. On average, sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the purchase, the insider now directly owns 30,249,998 shares of the company's stock, valued at approximately $611,049,959.60. This trade represents a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have purchased 331,000 shares of company stock worth $6,075,180. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

Several large investors have recently added to or reduced their stakes in PBF. Bank of New York Mellon Corp boosted its stake in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after acquiring an additional 260,464 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in PBF Energy by 150.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after purchasing an additional 1,272,254 shares during the period. American Century Companies Inc. lifted its position in PBF Energy by 11.2% during the fourth quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after purchasing an additional 187,351 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PBF Energy by 12.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock valued at $31,981,000 after purchasing an additional 182,456 shares during the period. Finally, Two Sigma Investments LP increased its position in PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after buying an additional 184,194 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.