PBF Energy (NYSE:PBF) Stock Price Down 5.2% – Time to Sell?
by Mitch Edgeman · The Markets DailyPBF Energy Inc. (NYSE:PBF – Get Free Report) fell 5.2% on Monday . The stock traded as low as $73.63 and last traded at $73.1470. Approximately 1,937,390 shares traded hands during trading, a decline of 43% from the average session volume of 3,370,118 shares. The stock had previously closed at $77.19.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Mizuho upped their price target on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their target price on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, September 14th. TD Cowen upped their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group lifted their target price on shares of PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.55.
Check Out Our Latest Analysis on PBF Energy
PBF Energy Trading Down 4.9%
The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The company’s 50 day moving average is $69.29 and its 200 day moving average is $52.37. The stock 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.
PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.03) EPS. On average, research analysts forecast that PBF Energy Inc. will post 22.61 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is 9.73%.
Insider Buying and Selling
In other news, CEO Matthew C. Lucey sold 142,364 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $73.50, for a total value of $10,463,754.00. Following the sale, the chief executive officer owned 495,771 shares of the company’s stock, valued at approximately $36,439,168.50. This represents a 22.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Trecia M. Canty sold 75,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $74.10, for a total transaction of $5,557,500.00. Following the sale, the senior vice president owned 191,779 shares of the company’s stock, valued at $14,210,823.90. This trade represents a 28.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,381,944 shares of company stock valued at $401,075,033. 5.50% of the stock is currently owned by insiders.
Institutional Trading of PBF Energy
Several hedge funds have recently modified their holdings of PBF. Leonteq Securities AG bought a new position in shares of PBF Energy in the first quarter valued at approximately $33,000. Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy during the 4th quarter worth approximately $57,000. Global Retirement Partners LLC increased its holdings in 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 valued at $60,000 after purchasing an additional 2,147 shares in the last quarter. IFP Advisors Inc raised its position in PBF Energy by 68.7% in 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 during the last quarter. Finally, Strs Ohio acquired a new position in PBF Energy in the first quarter worth $143,000. 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 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.