PBF Energy (NYSE:PBF) Stock Price Down 5.2% – Time to Sell?

PBF Energy Inc. (NYSE:PBF) shares were down 5.2% during mid-day trading on Monday . The stock traded as low as $73.63 and last traded at $73.1470. 1,937,390 shares changed hands during trading, a decline of 43% from the average session volume of 3,370,118 shares. The stock had previously closed at $77.19.

Analysts Set New Price Targets

PBF has been the subject of a number of analyst reports. UBS Group raised their price target on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their price objective on PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a report on Friday, August 7th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Mizuho increased their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.55.

PBF Energy Stock Up 2.4%

The firm has a market capitalization of $8.67 billion, a P/E ratio of 6.52, a PEG ratio of 0.06 and a beta of 0.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The firm’s 50-day moving average is $69.80 and its 200 day moving average is $52.78.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the business posted ($1.03) EPS. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. As a group, equities research analysts predict that PBF Energy Inc. will post 22.61 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Insiders Place Their Bets

In related news, CEO Matthew C. Lucey sold 225,473 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the sale, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $35,655,850.32. This trade represents a 31.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Control Empresarial De Capital sold 570,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares in the company, valued at $794,709,054.08. The trade was a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,381,944 shares of company stock valued at $401,075,033 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the period. Dimensional Fund Advisors LP lifted its stake in PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after buying an additional 1,137,533 shares in the last quarter. Norges Bank bought a new stake in shares of PBF Energy during the fourth quarter worth $34,243,000. Finally, Sei Investments Co. increased its holdings in shares of PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after buying an additional 106,819 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.