PBF Energy (NYSE:PBF) Price Target Lowered to $31.00 at Scotiabank

PBF Energy (NYSE:PBF) had its price target lowered by Scotiabank from $45.00 to $31.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a sector perform rating on the oil and gas company’s stock.

A number of other brokerages also recently commented on PBF. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a hold rating to a sell rating in a report on Monday, September 9th. Wolfe Research initiated coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a peer perform rating for the company. UBS Group lowered their target price on shares of PBF Energy from $57.00 to $44.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company reduced their price target on PBF Energy from $51.00 to $39.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on PBF Energy from $45.00 to $39.00 and set a neutral rating for the company in a research report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $40.55.

PBF Energy Price Performance

Shares of PBF opened at $33.14 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company has a 50 day moving average price of $33.50 and a 200-day moving average price of $43.27. PBF Energy has a fifty-two week low of $30.17 and a fifty-two week high of $62.88. The stock has a market capitalization of $3.93 billion, a PE ratio of 2.29 and a beta of 1.55.

PBF Energy (NYSE:PBF) last announced 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 company 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 was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities analysts predict that PBF Energy will post -0.05 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 805,300 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were bought at an average cost of $32.62 per share, with a total value of $26,268,886.00. Following the transaction, the insider now owns 20,634,898 shares of the company’s stock, valued at approximately $673,110,372.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 2,952,300 shares of company stock worth $97,300,026 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after purchasing an additional 547,509 shares during the period. SG Americas Securities LLC raised its position in shares of PBF Energy by 14,785.7% in the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock worth $31,262,000 after acquiring an additional 539,381 shares during the period. Hsbc Holdings PLC grew its position in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after acquiring an additional 355,329 shares during the period. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares in the last quarter. Finally, Natixis purchased a new position in PBF Energy during the first quarter worth approximately $16,269,000. 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.