PBF Energy (NYSE:PBF) Rating Lowered to Underweight at Piper Sandler

Piper Sandler downgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to an underweight rating in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has $25.00 target price on the oil and gas company’s stock, down from their previous target price of $47.00.

Several other equities research analysts have also recently commented on PBF. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a hold rating to a sell rating in a research report on Monday, September 9th. Wells Fargo & Company reduced their target price on shares of PBF Energy from $52.00 to $51.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. Wolfe Research started coverage on PBF Energy in a report on Thursday, July 18th. They issued a peer perform rating on the stock. Scotiabank cut their price objective on PBF Energy from $56.00 to $45.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Finally, Morgan Stanley decreased their target price on PBF Energy from $48.00 to $38.00 and set an equal weight rating on the stock in a report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $47.91.

PBF Energy Trading Down 1.2 %

Shares of NYSE:PBF opened at $31.63 on Friday. PBF Energy has a twelve month low of $30.61 and a twelve month high of $62.88. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.75 billion, a P/E ratio of 2.19 and a beta of 1.56. The company has a 50 day moving average of $35.52 and a 200-day moving average of $45.42.

PBF Energy (NYSE:PBF) last issued its quarterly 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 firm had revenue of $8.74 billion for the quarter, compared to analyst estimates 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 quarter last year, the business posted $2.29 earnings per share. As a group, analysts anticipate that PBF Energy will post 1.25 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 140,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $45.73 per share, with a total value of $6,402,200.00. Following the purchase, the insider now directly owns 17,772,598 shares of the company’s stock, valued at approximately $812,740,906.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have purchased 2,584,300 shares of company stock worth $88,958,546. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in PBF. Banque Cantonale Vaudoise raised its position in PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 172 shares in the last quarter. GAMMA Investing LLC increased its position 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 buying an additional 224 shares during the last quarter. Center For Asset Management LLC increased its position in PBF Energy by 3.9% during the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock worth $353,000 after buying an additional 228 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in PBF Energy by 12.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 295 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of PBF Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock worth $7,863,000 after buying an additional 359 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.