PBF Energy (NYSE:PBF) Trading Down 5.9% - Time to Sell?

Key Points

• PBF Energy shares fell 5.9% in midday trading, hitting an intraday low of $39.25 after closing at $41.75 the day before.
• Analyst sentiment remains cautious: the stock has a consensus rating of "Reduce" with an average price target of $35.92, even though some firms recently raised targets.
• The company reported mixed quarterly results, missing EPS estimates but beating revenue expectations, and also announced a $0.275 quarterly dividend, equal to a 2.8% annualized yield.

PBF Energy Inc. (NYSE:PBF - Get Free Report) shares were down 5.9% during mid-day trading on Thursday . The stock traded as low as $39.25 and last traded at $39.2710. Approximately 852,628 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,591,626 shares. The stock had previously closed at $41.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PBF shares. Mizuho lifted their price target on PBF Energy from $38.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. Morgan Stanley lifted their price target on PBF Energy from $27.00 to $34.00 and gave the company an "underweight" rating in a research note on Friday, April 24th. Tudor Pickering raised PBF Energy from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Scotiabank lifted their price target on PBF Energy from $28.00 to $34.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Finally, TD Cowen dropped their price target on PBF Energy from $41.00 to $36.00 and set a "sell" rating on the stock in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $35.92.

PBF Energy Trading Down 6.4%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The business has a 50-day moving average of $43.43 and a 200-day moving average of $36.90. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 0.16 and a beta of 0.15.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.53) EPS. Research analysts anticipate that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. PBF Energy's payout ratio is currently 29.65%.

Insider Activity at PBF Energy

In related news, SVP James E. Fedena sold 77,085 shares of PBF Energy stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the sale, the senior vice president owned 139,016 shares of the company's stock, valued at approximately $6,895,193.60. The trade was a 35.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Nimbley sold 50,000 shares of PBF Energy stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director directly owned 790,716 shares in the company, valued at approximately $40,026,043.92. This represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,918,525 shares of company stock valued at $454,441,751. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the business. Leonteq Securities AG acquired a new position in PBF Energy during the first quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its position in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after buying an additional 589 shares during the last quarter. Torren Management LLC acquired a new position in PBF Energy during the fourth quarter worth approximately $30,000. Deseret Mutual Benefit Administrators increased its position in PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after buying an additional 440 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in PBF Energy during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 96.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.