PBF Energy (NYSE:PBF) Sets New 12-Month Low After Earnings Miss

PBF Energy Inc. (NYSE:PBF)’s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.03 and last traded at $23.71, with a volume of 1415875 shares. The stock had previously closed at $26.61.

The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 4.73%. PBF Energy’s payout ratio is -23.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and decreased their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group lowered their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.18.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $31.28 per share, for a total transaction of $3,128,000.00. Following the transaction, the insider now directly owns 26,532,498 shares in the company, valued at approximately $829,936,537.44. The trade was a 0.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders bought 1,968,500 shares of company stock worth $58,476,810 in the last quarter. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. increased its stake in shares of PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 364 shares in the last quarter. Yousif Capital Management LLC grew its holdings in PBF Energy by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after acquiring an additional 459 shares during the last quarter. Leavell Investment Management Inc. increased its position in PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 460 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock worth $1,931,000 after acquiring an additional 480 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after acquiring an additional 485 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $28.28 and its 200-day moving average price is $31.27. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -8.97 and a beta of 1.60.

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.