PBF Energy (NYSE:PBF) Hits New 1-Year Low on Analyst Downgrade

PBF Energy Inc. (NYSE:PBF)’s stock price hit a new 52-week low on Wednesday after Mizuho lowered their price target on the stock from $28.00 to $22.00. Mizuho currently has an underperform rating on the stock. PBF Energy traded as low as $18.20 and last traded at $19.21, with a volume of 3660883 shares changing hands. The stock had previously closed at $19.09.

Several other equities research analysts have also recently weighed in on PBF. Piper Sandler lowered their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. UBS Group lowered their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. TD Cowen lowered their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, March 11th. Finally, Morgan Stanley cut their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.55.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the transaction, the insider now directly owns 30,534,998 shares of the company’s stock, valued at approximately $582,913,111.82. The trade was a 0.07 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders purchased a total of 671,000 shares of company stock valued at $17,862,200 over the last three months. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP acquired a new stake in PBF Energy during the 3rd quarter worth $48,000. Golden State Wealth Management LLC bought a new position in PBF Energy during the fourth quarter worth about $61,000. EverSource Wealth Advisors LLC grew its stake in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PBF Energy in the fourth quarter worth about $68,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62. The stock has a 50-day moving average price of $23.81 and a 200 day moving average price of $28.01.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 5.72%. PBF Energy’s dividend payout ratio is currently -23.35%.

PBF Energy Company Profile

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.