PBF Energy (NYSE:PBF) Price Target Cut to $17.00 by Analysts at TD Cowen

PBF Energy (NYSE:PBF) had its price target cut by TD Cowen from $19.00 to $17.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a sell rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Piper Sandler reduced their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. UBS Group reduced their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, The Goldman Sachs Group reduced 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. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.55.

PBF Energy Stock Performance

Shares of PBF stock opened at $20.12 on Tuesday. The firm has a market capitalization of $2.32 billion, a PE ratio of -4.27 and a beta of 1.62. The firm has a fifty day simple moving average of $26.33 and a two-hundred day simple moving average of $29.32. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy has a 12 month low of $18.97 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 70,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the acquisition, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. This represents a 0.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 1,062,500 shares of company stock valued at $28,442,290. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Farther Finance Advisors LLC lifted its position in PBF Energy by 27.9% during the third 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. Verdence Capital Advisors LLC lifted its position in PBF Energy by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 543 shares during the last quarter. Covestor Ltd lifted its position in PBF Energy by 64.6% during the third quarter. Covestor Ltd now owns 2,780 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 1,091 shares during the last quarter. State of New Jersey Common Pension Fund D lifted 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 during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of PBF Energy by 76.8% during the third quarter. GSA Capital Partners LLP now owns 44,618 shares of the oil and gas company’s stock worth $1,381,000 after acquiring an additional 19,375 shares in the last quarter. 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.