Piper Sandler Lowers PBF Energy (NYSE:PBF) to Underweight

Piper Sandler cut shares of PBF Energy (NYSE:PBF) from a neutral rating to an underweight rating in a research note released on Friday morning, Marketbeat reports. They currently have $25.00 price target on the oil and gas company’s stock, down from their prior price target of $47.00.

A number of other equities research analysts have also recently weighed in on the company. Tudor, Pickering, Holt & Co. cut PBF Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Morgan Stanley dropped their price objective on shares of 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. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $58.00 to $53.00 and set an overweight rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company decreased their price target on shares of PBF Energy from $52.00 to $51.00 and set an overweight rating on the stock in a research note on Tuesday, September 3rd. Finally, Wolfe Research assumed coverage on shares of PBF Energy in a research report on Thursday, July 18th. They set a peer perform rating for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has an average rating of Hold and an average price target of $47.91.

PBF Energy Price Performance

NYSE PBF opened at $32.02 on Friday. The firm’s 50 day moving average is $35.70 and its 200-day moving average is $45.55. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.80 billion, a PE ratio of 2.22 and a beta of 1.56. PBF Energy has a 12-month low of $30.61 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that PBF Energy will post 1.25 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 102,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average price of $44.91 per share, with a total value of $4,580,820.00. Following the acquisition, the insider now owns 17,453,598 shares of the company’s stock, valued at approximately $783,841,086.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 2,584,300 shares of company stock valued at $88,958,546 in the last ninety days. 5.30% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in PBF Energy by 95.3% in the 1st 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 in the last quarter. Rise Advisors LLC bought a new stake in shares of PBF Energy during the 1st quarter worth $27,000. National Bank of Canada FI purchased a new position in PBF Energy in the second quarter worth $26,000. Creekmur Asset Management LLC bought a new position in PBF Energy in the fourth quarter valued at $29,000. Finally, CWM LLC raised its position in 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 purchasing an additional 569 shares in the last quarter. 96.29% of the stock is currently 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.