PBF Energy Inc. (NYSE:PBF – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $41.89, but opened at $39.18. PBF Energy shares last traded at $39.4350, with a volume of 153,008 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Citigroup lifted their target price on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Zacks Research downgraded PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. TD Cowen decreased their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, April 27th. Finally, The Goldman Sachs Group initiated coverage on PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, PBF Energy has a consensus rating of “Reduce” and an average target price of $36.46.
PBF Energy Stock Down 4.6%
PBF Energy (NYSE:PBF – Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($3.53) earnings per share. Sell-side analysts anticipate that PBF Energy Inc. will post 6.91 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s payout ratio is presently 29.65%.
Insider Activity at PBF Energy
In other news, insider Control Empresarial De Capital sold 1,100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the transaction, the insider directly owned 22,996,898 shares of the company’s stock, valued at $1,062,686,656.58. The trade was a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 6,888,225 shares of company stock valued at $327,909,811. 5.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC raised its position in PBF Energy by 7.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after purchasing an additional 40,129 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in PBF Energy in the 3rd quarter worth approximately $823,000. Quantbot Technologies LP bought a new position in PBF Energy in the 3rd quarter worth approximately $1,546,000. Goldman Sachs Group Inc. raised its position in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in PBF Energy in the 4th quarter worth approximately $1,485,000. Institutional investors own 96.29% of the company’s stock.
About PBF Energy
PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.
The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.
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