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

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

Other equities analysts have also issued reports about the company. Morgan Stanley reduced their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Bank of America began coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price on the stock. 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. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.18.

PBF Energy Trading Down 0.8 %

PBF stock opened at $30.58 on Monday. The company has a market capitalization of $3.58 billion, a PE ratio of -11.81 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a one year low of $27.94 and a one year high of $62.88. The company’s 50 day moving average price is $31.89 and its two-hundred day moving average price is $39.73.

PBF Energy (NYSE:PBF) last issued 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 business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business earned $6.61 EPS. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, analysts predict that PBF Energy will post -2.42 earnings per share 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. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is -38.61%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $28.37 per share, with a total value of $2,411,450.00. Following the completion of the purchase, the insider now directly owns 26,197,498 shares of the company’s stock, valued at approximately $743,223,018.26. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 4,492,400 shares of company stock valued at $142,172,797 in the last three months. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

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

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.