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

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Scotiabank dropped their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and dropped their price target for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Price Performance

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 firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -10.70 and a beta of 1.60. The business’s fifty day simple moving average is $28.94 and its 200 day simple moving average is $31.87.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.61 earnings per share. On average, research analysts forecast that PBF Energy Inc. will post -3.75 EPS for the current year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 100,000 shares of PBF Energy stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $31.28 per share, for a total transaction of $3,128,000.00. Following the completion of the acquisition, the insider now directly owns 26,532,498 shares of the company’s stock, valued at $829,936,537.44. This represents a 0.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 1,863,500 shares of company stock worth $55,484,460 over the last three months. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new stake in PBF Energy in the third quarter worth about $48,000. Harbor Capital Advisors Inc. bought a new stake in PBF Energy in the third quarter worth about $59,000. Blue Trust Inc. raised its position in PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of PBF Energy in the fourth quarter valued at approximately $61,000. 96.29% of the stock is owned by institutional investors.

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.