PBF Energy (NYSE:PBF) Shares Gap Down – Here’s Why

PBF Energy Inc. (NYSE:PBF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $33.40, but opened at $32.20. PBF Energy shares last traded at $33.01, with a volume of 302,720 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PBF shares. Cowen reiterated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. Mizuho boosted their price target on shares of PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a report on Monday. Wall Street Zen upgraded PBF Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Strong Sell” and a consensus target price of $28.46.

PBF Energy Stock Performance

The stock has a market capitalization of $3.57 billion, a P/E ratio of -6.64 and a beta of 0.42. The stock has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $27.72. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the business earned ($1.50) earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s payout ratio is -23.66%.

Insider Transactions at PBF Energy

In other news, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Trecia M. Canty sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total value of $1,822,000.00. Following the transaction, the senior vice president directly owned 200,744 shares in the company, valued at $7,315,111.36. The trade was a 19.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 507,045 shares of company stock valued at $18,193,421. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its position in PBF Energy by 27.3% in the first quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock valued at $2,279,000 after acquiring an additional 25,616 shares during the last quarter. VR Advisory Services Ltd increased its position in PBF Energy by 241.9% during the 1st quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company’s stock worth $3,263,000 after purchasing an additional 120,945 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in PBF Energy in the second quarter valued at approximately $448,000. Ieq Capital LLC bought a new stake in shares of PBF Energy during the first quarter worth $192,000. Finally, Northern Trust Corp increased its holdings in shares of PBF Energy by 0.8% during the first quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company’s stock worth $26,544,000 after buying an additional 11,499 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.