PBF Energy (NYSE:PBF) Reaches New 52-Week Low at $32.14

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

Analysts Set New Price Targets

PBF has been the topic of several recent research reports. Scotiabank cut their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. UBS Group decreased their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Mizuho cut their target price on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Wolfe Research began coverage on PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group lowered their price objective on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.30.

PBF Energy Stock Down 2.5 %

The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 2.29 and a beta of 1.57. The stock’s 50-day moving average is $38.40 and its 200-day moving average is $46.83.

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

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 7,500 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $45.65 per share, for a total transaction of $342,375.00. Following the completion of the acquisition, the insider now directly owns 14,882,698 shares of the company’s stock, valued at $679,395,163.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 2,164,100 shares of company stock valued at $93,974,517. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. GAMMA Investing LLC lifted its holdings in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of PBF Energy during the 1st quarter valued at approximately $27,000. National Bank of Canada FI bought a new position in PBF Energy in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in PBF Energy during the 4th quarter valued at $29,000. Finally, Fifth Third Bancorp lifted its position in shares of 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 acquiring an additional 222 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other 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.