PBF Energy (NYSE:PBF) Price Target Cut to $33.00 by Analysts at Mizuho

PBF Energy (NYSE:PBF) had its price objective cut by Mizuho from $36.00 to $33.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

PBF has been the topic of several other reports. Bank of America assumed coverage on shares of PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. UBS Group dropped their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $47.00 to $25.00 in a report on Friday, September 20th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average price target of $34.18.

PBF Energy Trading Down 0.0 %

Shares of PBF Energy stock traded down $0.01 during trading on Monday, hitting $28.34. The stock had a trading volume of 301,176 shares, compared to its average volume of 2,168,759. The firm’s fifty day simple moving average is $32.05 and its 200-day simple moving average is $40.05. The stock has a market cap of $3.32 billion, a PE ratio of -10.97 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. PBF Energy has a 12 month low of $27.94 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm posted $6.61 earnings per share. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, sell-side analysts expect that PBF Energy will post -2.32 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.275 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Wednesday, November 13th. PBF Energy’s payout ratio is presently -42.47%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 510,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $33.18 per share, with a total value of $16,921,800.00. Following the completion of the transaction, the insider now owns 19,129,598 shares of the company’s stock, valued at approximately $634,720,061.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 4,257,400 shares of company stock valued at $135,462,347 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in PBF Energy by 957.8% during the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after buying an additional 547,509 shares during the last quarter. SG Americas Securities LLC boosted its stake in 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 valued at $31,262,000 after acquiring an additional 539,381 shares during the last quarter. Hsbc Holdings PLC lifted its stake in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after buying an additional 355,329 shares during the period. Acadian Asset Management LLC boosted its stake in PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after acquiring an additional 347,268 shares during the last quarter. Finally, Natixis bought a new position in PBF Energy during the first quarter worth about $16,269,000. 96.29% of the stock is currently 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.