Mizuho Lowers PBF Energy (NYSE:PBF) Price Target to $42.00

PBF Energy (NYSE:PBF) had its price target reduced by Mizuho from $48.00 to $42.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on PBF. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $52.00 to $51.00 and set an overweight rating for the company in a research report on Tuesday, September 3rd. Scotiabank cut their target price on PBF Energy from $56.00 to $45.00 and set a sector perform rating on the stock in a research note on Friday, July 12th. Tudor Pickering upgraded shares of PBF Energy to a strong sell rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group decreased their price objective on PBF Energy from $57.00 to $50.00 and set a neutral rating for the company in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of Hold and a consensus price target of $49.91.

PBF Energy Price Performance

NYSE PBF opened at $33.88 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.02 billion, a P/E ratio of 2.34 and a beta of 1.56. The company has a 50-day moving average price of $35.87 and a 200-day moving average price of $45.70. PBF Energy has a 52 week low of $30.61 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities research analysts anticipate that PBF Energy will post 1.25 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 102,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average cost of $44.91 per share, for a total transaction of $4,580,820.00. Following the completion of the transaction, the insider now owns 17,453,598 shares of the company’s stock, valued at approximately $783,841,086.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 2,684,300 shares of company stock worth $93,389,546. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of PBF Energy during the second quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in PBF Energy in the first quarter valued at approximately $27,000. Creekmur Asset Management LLC purchased a new position in PBF Energy in the fourth quarter worth approximately $29,000. Finally, CWM LLC increased its position in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other institutional investors 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.