PBF Energy (NYSE:PBF) Given New $22.00 Price Target at Mizuho

PBF Energy (NYSE:PBF) had its target price cut by Mizuho from $28.00 to $22.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the oil and gas company’s stock.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group dropped their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Piper Sandler reduced their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. TD Cowen lowered their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company dropped their target price on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.55.

PBF Energy Stock Performance

Shares of PBF stock opened at $19.21 on Tuesday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62. The stock has a fifty day moving average of $23.81 and a 200 day moving average of $28.01. PBF Energy has a 52 week low of $18.20 and a 52 week high of $62.88. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, research analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.72%. PBF Energy’s dividend payout ratio is presently -23.35%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was purchased at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the purchase, the insider now directly owns 29,084,998 shares of the company’s stock, valued at $860,915,940.80. This trade represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 671,000 shares of company stock worth $17,862,200 over the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after acquiring an additional 392,776 shares during the last quarter. Neo Ivy Capital Management bought a new position in PBF Energy during the third quarter valued at approximately $2,404,000. Heartland Advisors Inc. purchased a new stake in PBF Energy in the fourth quarter worth approximately $1,420,000. Wealthfront Advisers LLC bought a new stake in PBF Energy in the 4th quarter worth approximately $4,515,000. Finally, First Eagle Investment Management LLC raised its stake in PBF Energy by 16.6% during the 4th quarter. First Eagle Investment Management LLC now owns 449,017 shares of the oil and gas company’s stock valued at $11,921,000 after buying an additional 64,000 shares during the last quarter. 96.29% of the stock is currently 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.