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

Shares of PBF Energy Inc. (NYSE:PBF) fell 5.3% during mid-day trading on Monday . The stock traded as low as $27.37 and last traded at $27.70. 1,085,446 shares traded hands 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PBF. TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and decreased their price target for the company from $27.00 to $20.00 in a report on Friday, December 20th. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. The Goldman Sachs Group reduced their target price 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. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Scotiabank reduced their target price 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. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.00.

PBF Energy Stock Down 5.3 %

The firm’s 50-day simple moving average is $28.94 and its 200 day simple moving average is $31.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock has a market capitalization of $3.19 billion, a P/E ratio of -10.70 and a beta of 1.60.

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

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 85,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $28.37 per share, for a total transaction of $2,411,450.00. Following the transaction, the insider now directly owns 26,197,498 shares in the company, valued at approximately $743,223,018.26. This trade represents a 0.33 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have purchased 1,863,500 shares of company stock worth $55,484,460. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PBF. Fortitude Family Office LLC grew its position in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP acquired a new stake in shares of PBF Energy during the 3rd quarter worth approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy during the 3rd quarter worth approximately $59,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy during the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. boosted its position in shares of PBF Energy by 1,291.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.