PBF Energy (NYSE:PBF) Shares Gap Down to $33.88

PBF Energy Inc. (NYSE:PBF)’s share price gapped down before the market opened on Friday . The stock had previously closed at $33.88, but opened at $32.88. PBF Energy shares last traded at $32.24, with a volume of 425,088 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Wolfe Research assumed coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. UBS Group decreased their target price on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group dropped their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.91.

PBF Energy Price Performance

The company has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $45.70. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 2.21 and a beta of 1.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post 1.25 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is presently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 102,000 shares of PBF Energy stock in a transaction on Wednesday, June 26th. The shares were purchased at an average price of $44.91 per share, with a total value of $4,580,820.00. Following the acquisition, the insider now owns 17,453,598 shares in the company, valued at approximately $783,841,086.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have bought 2,684,300 shares of company stock worth $93,389,546. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in PBF Energy in the 4th quarter valued at approximately $283,000. Quadrant Capital Group LLC increased its holdings in shares of PBF Energy by 12.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock worth $114,000 after buying an additional 295 shares in the last quarter. Norges Bank acquired a new position in shares of PBF Energy during the fourth quarter worth $54,832,000. Corient Private Wealth LLC lifted its stake in shares of PBF Energy by 3.9% in the 4th quarter. Corient Private Wealth LLC now owns 48,583 shares of the oil and gas company’s stock valued at $2,136,000 after acquiring an additional 1,812 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of PBF Energy by 454.8% during the 4th quarter. Trexquant Investment LP now owns 111,911 shares of the oil and gas company’s stock valued at $4,920,000 after acquiring an additional 91,738 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

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.