PBF Energy (NYSE:PBF) Sets New 52-Week Low – Should You Sell?

PBF Energy Inc. (NYSE:PBF) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.90 and last traded at $19.04, with a volume of 53424 shares changing hands. The stock had previously closed at $19.35.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PBF. TD Cowen lowered their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley lowered their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. The Goldman Sachs Group reduced their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, UBS Group dropped their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.36.

PBF Energy Stock Performance

The company has a market cap of $2.22 billion, a PE ratio of -4.08 and a beta of 1.62. The stock has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $28.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last released its quarterly 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 net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

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

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 651,000 shares of company stock worth $17,480,400. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in PBF Energy by 968.8% during the 4th 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 during the period. Quarry LP purchased a new stake in shares of PBF Energy in the third quarter valued at approximately $48,000. Golden State Wealth Management LLC acquired a new position in PBF Energy during the fourth quarter worth $61,000. EverSource Wealth Advisors LLC raised its position 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 worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy in the fourth quarter valued at $68,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.