PBF Energy (NYSE:PBF) Trading Down 5.2% - Time to Sell?

Key Points

• PBF Energy shares fell 5.2% to about $73.15 in midday trading, with volume roughly 43% below the average session level.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $59.55, despite some firms raising their targets.
• The company reported better-than-expected quarterly results, including $6.22 in EPS versus a $4.15 estimate, and pays a $0.275 quarterly dividend. However, insiders sold more than 6.38 million shares worth approximately $401.1 million over the past three months.

PBF Energy Inc. (NYSE:PBF - Get Free Report) dropped 5.2% during mid-day trading on Monday . The stock traded as low as $73.63 and last traded at $73.1470. Approximately 1,937,390 shares were traded during trading, a decline of 43% from the average session volume of 3,370,118 shares. The stock had previously closed at $77.19.

Analyst Ratings Changes

Several research analysts have recently weighed in on PBF shares. Weiss Ratings reissued a "sell (d-)" rating on shares of PBF Energy in a research report on Friday, August 7th. Citigroup upped their price target on shares of PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Freedom Capital lowered shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Mizuho lifted their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group boosted their target price on shares of PBF Energy from $71.00 to $81.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $59.55.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.06 and a beta of 0.09. The firm's fifty day moving average is $69.29 and its 200 day moving average is $52.37.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the prior year, the business earned ($1.03) EPS. The company's revenue for the quarter was up 56.2% compared to the same quarter last year. On average, analysts predict that PBF Energy Inc. will post 22.61 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. PBF Energy's dividend payout ratio is 9.73%.

Insider Transactions at PBF Energy

In other PBF Energy news, SVP Trecia M. Canty sold 75,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $74.10, for a total value of $5,557,500.00. Following the transaction, the senior vice president directly owned 191,779 shares of the company's stock, valued at $14,210,823.90. This represents a 28.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Nimbley sold 116,008 shares of the company's stock in a transaction dated 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 directly owned 793,737 shares in the company, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,381,944 shares of company stock valued at $401,075,033 in the last three months. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Leonteq Securities AG bought a new position in PBF Energy during the first quarter valued at approximately $33,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of PBF Energy during the 4th quarter worth $57,000. Global Retirement Partners LLC increased its stake in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock worth $60,000 after purchasing an additional 2,147 shares during the last quarter. IFP Advisors Inc raised 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 purchasing an additional 591 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of PBF Energy during the 1st quarter valued at $143,000. Institutional investors own 96.29% of the company's stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.

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