PBF Energy (NYSE:PBF) Sets New 12-Month Low – Here’s What Happened

PBF Energy Inc. (NYSE:PBF)’s share price reached a new 52-week low on Monday . The stock traded as low as $27.92 and last traded at $27.92, with a volume of 411914 shares. The stock had previously closed at $29.26.

Analysts Set New Price Targets

PBF has been the subject of a number of analyst reports. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $31.00 in a report on Monday. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Finally, Scotiabank dropped their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.09.

PBF Energy Stock Up 0.3 %

The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -10.78 and a beta of 1.57. The firm has a 50 day moving average price of $31.06 and a two-hundred day moving average price of $35.58.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the firm earned $6.61 earnings per share. The company’s quarterly revenue was down 21.9% on a year-over-year basis. On average, equities analysts expect that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.94%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 265,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $31.87 per share, for a total transaction of $8,445,550.00. Following the acquisition, the insider now directly owns 23,217,398 shares in the company, valued at $739,938,474.26. The trade was a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 3,568,100 shares of company stock worth $111,183,331. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of hedge funds have recently made changes to their positions in PBF. Neo Ivy Capital Management acquired a new position in shares of PBF Energy in the third quarter worth about $2,404,000. Dakota Wealth Management purchased a new stake in PBF Energy during the 3rd quarter worth approximately $694,000. Intech Investment Management LLC raised its position in shares of PBF Energy by 165.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after buying an additional 18,173 shares in the last quarter. Finally, Symmetry Investments LP bought a new stake in shares of PBF Energy in the second quarter worth $2,464,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.