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

PBF Energy Inc. (NYSE:PBF)’s share price was down 5.9% during 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 Ratings Changes

Several equities analysts have recently commented on PBF shares. BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Mizuho upped their target price on PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Finally, TD Cowen decreased their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $35.92.

PBF Energy Trading Down 6.4%

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

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted ($3.53) earnings per share. On average, equities research analysts predict that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

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

Insider Activity at PBF Energy

In related news, SVP James E. Fedena sold 77,085 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly owned 139,016 shares in the company, valued at approximately $6,895,193.60. The trade was a 35.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Nimbley sold 50,000 shares of the business’s stock in a transaction that occurred on 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 owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,918,525 shares of company stock worth $454,441,751. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its stake in shares of PBF Energy by 7.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after acquiring an additional 40,129 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of PBF Energy in the 3rd quarter valued at $823,000. Allianz Asset Management GmbH lifted its stake in shares of PBF Energy by 1,232.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock valued at $8,058,000 after acquiring an additional 247,039 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of PBF Energy by 264.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after acquiring an additional 70,312 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of PBF Energy in the 3rd quarter valued at $1,546,000. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

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.