PBF Energy (NYSE:PBF) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of PBF Energy (NYSE:PBF) from a hold rating to a sell rating in a report released on Monday morning.

A number of other research analysts have also issued reports on the company. Wolfe Research assumed coverage on PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Bank of America began coverage on shares of PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group cut their price target on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.18.

PBF Energy Stock Down 0.8 %

PBF stock opened at $30.58 on Monday. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -11.81 and a beta of 1.56. The company has a fifty day moving average price of $31.89 and a 200 day moving average price of $39.73. 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 net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company posted $6.61 earnings per share. PBF Energy’s quarterly revenue was down 21.9% on a year-over-year basis. Sell-side analysts expect that PBF Energy will post -2.42 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.275 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. This represents a $1.10 annualized dividend and a yield of 3.60%. PBF Energy’s dividend payout ratio is -38.61%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 510,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $33.18 per share, for a total transaction of $16,921,800.00. Following the transaction, the insider now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 4,492,400 shares of company stock worth $142,172,797 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI purchased a new position in PBF Energy during the second quarter worth $26,000. CWM LLC boosted its stake in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy during the 3rd quarter worth about $59,000. Blue Trust Inc. raised its stake in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 573 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.