PBF Energy (NYSE:PBF) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of PBF Energy (NYSE:PBF) from an overweight rating to a neutral rating in a research note released on Wednesday morning, MarketBeat.com reports. They currently have $40.00 target price on the oil and gas company’s stock, down from their previous target price of $53.00.

Other research analysts have also recently issued reports about the company. Morgan Stanley cut their price objective on PBF Energy from $48.00 to $38.00 and set an equal weight rating for the company in a report on Monday, September 16th. Mizuho cut their price target on shares of PBF Energy from $48.00 to $42.00 and set a neutral rating for the company in a report on Monday, September 16th. Tudor Pickering upgraded shares of PBF Energy to a strong sell rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a hold rating to a sell rating in a report on Monday, September 9th. Finally, UBS Group reduced their target price on PBF Energy from $57.00 to $44.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $43.45.

PBF Energy Price Performance

Shares of PBF Energy stock opened at $32.99 on Wednesday. The firm has a market cap of $3.91 billion, a P/E ratio of 2.28 and a beta of 1.55. The firm’s 50-day simple moving average is $34.14 and its 200-day simple moving average is $44.18. PBF Energy has a twelve month low of $30.17 and a twelve month high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company had revenue of $8.74 billion during 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 company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, research analysts expect that PBF Energy will post 0.35 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio is 6.92%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 50,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $35.60 per share, with a total value of $1,780,000.00. Following the purchase, the insider now directly owns 18,179,598 shares in the company, valued at $647,193,688.80. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 2,952,300 shares of company stock valued at $97,300,026 over the last ninety days. Insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings 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 valued at $26,000 after purchasing an additional 224 shares during the period. National Bank of Canada FI acquired a new position in shares of PBF Energy in the 2nd quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at $27,000. Creekmur Asset Management LLC acquired a new stake in PBF Energy during the 4th quarter worth $29,000. Finally, CWM LLC lifted its holdings in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

About PBF Energy

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.