By otakuyassine3@gmail.com 
TD Cowen downgraded shares of PBF Energy (NYSE:PBF – Free Report) from a hold rating to a sell rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $20.00 price target on the oil and gas company’s stock, down from their previous price target of $27.00.
Other research analysts also recently issued research reports about the company. Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Scotiabank dropped their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Seven investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.45.
Check Out Our Latest Stock Analysis on PBF Energy
PBF Energy Price Performance
Shares of NYSE:PBF opened at $25.15 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.90 billion, a PE ratio of -9.71 and a beta of 1.57. The firm’s 50 day moving average price is $30.63 and its 200-day moving average price is $35.30. PBF Energy has a twelve month low of $24.21 and a twelve month high of $62.88.
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company’s revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.61 EPS. Equities research analysts expect that PBF Energy will post -2.87 EPS for the current year.
PBF Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.
Insider Buying and Selling at PBF Energy
In other PBF Energy news, insider Control Empresarial De Capital bought 341,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the transaction, the insider now owns 28,814,998 shares in the company, valued at $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 3,659,600 shares of company stock worth $112,411,021 over the last 90 days. Company insiders own 5.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in PBF Energy in the third quarter worth approximately $2,404,000. Dakota Wealth Management bought a new position in shares of PBF Energy in the 3rd quarter worth $694,000. Intech Investment Management LLC lifted its stake in shares of PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after purchasing an additional 28,770 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares in the last quarter. Finally, Symmetry Investments LP purchased a new position in PBF Energy in the second quarter valued at about $2,464,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.
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.
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