PBF Energy (NYSE:PBF) Reaches New 1-Year Low at $32.14

PBF Energy Inc. (NYSE:PBF) hit a new 52-week low during trading on Thursday . The company traded as low as $32.14 and last traded at $32.19, with a volume of 1059547 shares. The stock had previously closed at $33.06.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PBF. The Goldman Sachs Group lowered their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Scotiabank dropped their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. UBS Group decreased their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Piper Sandler dropped their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Finally, Wolfe Research started coverage on PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.30.

PBF Energy Stock Up 0.3 %

The company has a market cap of $3.79 billion, a price-to-earnings ratio of 2.24 and a beta of 1.57. The business has a 50-day simple moving average of $37.87 and a two-hundred day simple moving average of $46.62. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts forecast that PBF Energy Inc. will post 1.61 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 510,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $33.18 per share, with a total value of $16,921,800.00. Following the transaction, the insider now owns 19,129,598 shares of the company’s stock, valued at $634,720,061.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 2,623,100 shares of company stock worth $108,540,627 in the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the period. Rise Advisors LLC acquired a new stake in shares of PBF Energy during the 1st quarter valued at about $27,000. National Bank of Canada FI bought a new stake in PBF Energy in the second quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in PBF Energy in the fourth quarter worth about $29,000. Finally, Fifth Third Bancorp lifted its stake in PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 222 shares during the period. Institutional investors own 96.29% of the company’s stock.

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.