PBF Energy (NYSE:PBF) Stock Price Down 5.3% – Here’s What Happened

Shares of PBF Energy Inc. (NYSE:PBF) were down 5.3% during trading on Monday . The stock traded as low as $27.37 and last traded at $27.70. Approximately 1,085,446 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,977,999 shares. The stock had previously closed at $29.26.

Analyst Ratings Changes

PBF has been the topic of a number of recent research reports. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the company from $33.00 to $31.00 in a report on Monday, December 16th. Scotiabank cut their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group decreased their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and cut their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Finally, Bank of America began coverage on PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.00.

PBF Energy Stock Down 2.3 %

The firm has a 50 day moving average of $28.84 and a 200-day moving average of $31.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The stock has a market capitalization of $3.42 billion, a P/E ratio of -11.45 and a beta of 1.60.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 409,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the acquisition, the insider now owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 1,818,500 shares of company stock worth $54,171,810. Company insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

Several large investors have recently added to or reduced their stakes in PBF. Neo Ivy Capital Management bought a new position in shares of PBF Energy in the third quarter valued at about $2,404,000. Dakota Wealth Management acquired a new stake in PBF Energy in the 3rd quarter valued at about $694,000. Intech Investment Management LLC raised its stake in shares of PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after acquiring an additional 28,770 shares during the last quarter. State of New Jersey Common Pension Fund D lifted 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 purchasing an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in shares of PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after purchasing an additional 26,952 shares during 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.