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

Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week low during trading on Tuesday . The stock traded as low as $19.95 and last traded at $20.13, with a volume of 4659327 shares traded. The stock had previously closed at $21.43.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBF. UBS Group reduced their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and reduced their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.55.

PBF Energy Stock Performance

The stock’s 50-day moving average is $26.94 and its 200-day moving average is $29.93. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 341,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the purchase, the insider now directly owns 28,814,998 shares of the company’s stock, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,207,500 shares of company stock worth $34,557,290 over the last quarter. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares in the last quarter. Quarry LP acquired a new position in shares of PBF Energy in the third quarter worth about $48,000. Harbor Capital Advisors Inc. purchased a new position in PBF Energy in the third quarter valued at about $59,000. Golden State Wealth Management LLC purchased a new position in PBF Energy in the fourth quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC grew its stake in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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.