PBF Energy (NYSE:PBF) Stock Price Down 5.2% - Should You Sell?

Key Points

• PBF Energy shares fell 5.2% to approximately $84.66, with trading volume about 46% below the average daily level.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $65.55, well below the reported share price.
• The company exceeded quarterly earnings and revenue expectations, while maintaining a $0.275 quarterly dividend; however, insiders sold approximately $303.8 million of stock over the past three months.

PBF Energy Inc. (NYSE:PBF - Get Free Report)'s share price fell 5.2% during trading on Friday. The stock traded as low as $85.14 and last traded at $84.6610. Approximately 1,802,699 shares changed hands during trading, a decline of 46% from the average daily volume of 3,365,742 shares. The stock had previously closed at $89.34.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of PBF Energy in a research report on Thursday, October 1st. Evercore began coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 price target for the company. Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of PBF Energy from a "sell (d-)" rating to a "buy (b-)" rating in a report on Tuesday, September 22nd. Finally, Morgan Stanley raised their target price on shares of PBF Energy from $38.00 to $76.00 and gave the company an "underweight" rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $65.55.

PBF Energy Price Performance

The firm has a fifty day moving average price of $73.50 and a two-hundred day moving average price of $55.74. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $10.12 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.06 and a beta of 0.18.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company had revenue of $11.68 billion for the quarter, compared to analysts' expectations of $9.61 billion. During the same quarter in the previous year, the business posted ($1.03) EPS. PBF Energy's revenue was up 56.2% compared to the same quarter last year. On average, analysts expect that PBF Energy Inc. will post 24.69 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.2750 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. PBF Energy's dividend payout ratio is currently 9.73%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 120,000 shares of PBF Energy stock in a transaction on Monday, October 5th. The stock was sold at an average price of $84.13, for a total value of $10,095,600.00. Following the completion of the sale, the insider owned 13,496,127 shares of the company's stock, valued at approximately $1,135,429,164.51. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Nimbley sold 116,008 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director owned 793,737 shares of the company's stock, valued at $58,522,229.01. This represents a 12.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,196,374 shares of company stock valued at $303,792,637 in the last three months. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently modified their holdings of PBF. Leonteq Securities AG purchased a new position in PBF Energy in the 1st quarter worth about $33,000. IFP Advisors Inc boosted its holdings in shares of PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company's stock valued at $66,000 after acquiring an additional 591 shares during the last quarter. Strs Ohio bought a new stake in shares of PBF Energy in the first quarter worth approximately $143,000. Nykredit A S bought a new stake in shares of PBF Energy in the second quarter worth approximately $149,000. Finally, Parallel Advisors LLC grew its stake in shares of PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company's stock worth $180,000 after acquiring an additional 242 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.

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