PBF Energy (NYSE:PBF) Reaches New 12-Month Low at $30.18

PBF Energy Inc. (NYSE:PBF) hit a new 52-week low on Tuesday . The stock traded as low as $30.18 and last traded at $30.80, with a volume of 43106 shares changing hands. The stock had previously closed at $30.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. The Goldman Sachs Group cut their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. UBS Group lowered 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. Scotiabank reduced their price target 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. Finally, Mizuho lowered their price objective on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.91.

PBF Energy Stock Performance

The company’s 50 day simple moving average is $34.71 and its 200 day simple moving average is $44.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a market cap of $3.70 billion, a PE ratio of 2.14 and a beta of 1.56.

PBF Energy (NYSE:PBF) last issued 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 business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the business posted $2.29 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Analysts expect that PBF Energy Inc. will post 0.6 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 307,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $39.22 per share, for a total transaction of $12,040,540.00. Following the purchase, the insider now directly owns 18,079,598 shares in the company, valued at approximately $709,081,833.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have purchased 2,897,300 shares of company stock valued at $95,603,276. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hennessy Advisors Inc. raised its stake in PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after acquiring an additional 89,900 shares during the period. Van ECK Associates Corp raised its position in shares of PBF Energy by 763.4% in the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares during the period. Acadian Asset Management LLC lifted its stake in shares of PBF Energy by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after buying an additional 48,525 shares in the last quarter. Magnetar Financial LLC bought a new position in PBF Energy in the 1st quarter worth approximately $1,394,000. Finally, Inspire Investing LLC purchased a new position in PBF Energy in the 1st quarter valued at approximately $905,000. 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.