PBF Energy (NYSE:PBF) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of PBF Energy (NYSE:PBF) from a hold rating to a sell rating in a research report report published on Monday.

A number of other equities research analysts also recently issued reports on the stock. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Scotiabank decreased their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.18.

PBF Energy Price Performance

PBF stock opened at $30.58 on Monday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -11.81 and a beta of 1.56. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy has a 52-week low of $27.94 and a 52-week high of $62.88. The stock’s fifty day simple moving average is $31.89 and its 200-day simple moving average is $39.73.

PBF Energy (NYSE:PBF) last released its 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). 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 for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $6.61 earnings per share. The business’s quarterly revenue was down 21.9% compared to the same quarter last year. Equities research analysts expect that PBF Energy will post -2.42 EPS for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.275 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 annualized dividend and a yield of 3.60%. PBF Energy’s dividend payout ratio (DPR) is -38.61%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 510,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $33.18 per share, with a total value of $16,921,800.00. Following the acquisition, the insider now owns 19,129,598 shares in the company, valued at approximately $634,720,061.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 4,492,400 shares of company stock valued at $142,172,797. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of PBF Energy by 957.8% in 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 acquiring an additional 547,509 shares in the last quarter. SG Americas Securities LLC raised its position in shares of PBF Energy by 14,785.7% in the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after purchasing an additional 539,381 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of PBF Energy by 246.5% in the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after purchasing an additional 355,329 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of 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 valued at $64,489,000 after buying an additional 347,268 shares during the last quarter. Finally, Natixis acquired a new stake in shares of PBF Energy during the first quarter worth approximately $16,269,000. 96.29% of the stock is owned by hedge funds and other 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.