Mizuho cut shares of PBF Energy (NYSE:PBF – Free Report) from a neutral rating to an underperform rating in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has $31.00 target price on the oil and gas company’s stock, down from their previous target price of $33.00.
PBF has been the topic of a number of other research reports. Wells Fargo & Company cut PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $39.00 to $34.00 in a report on Monday, December 9th. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Bank of America initiated coverage on PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. Finally, Scotiabank decreased their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Six research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.09.
Get Our Latest Research Report on PBF Energy
PBF Energy Price Performance
PBF Energy (NYSE:PBF – Get Free Report) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.61 EPS. On average, analysts forecast that PBF Energy will post -2.87 EPS for the current fiscal year.
PBF Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.95%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.
Insider Activity at PBF Energy
In related news, insider Control Empresarial De Capital acquired 85,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $28.37 per share, with a total value of $2,411,450.00. Following the completion of the transaction, the insider now directly owns 26,197,498 shares of the company’s stock, valued at $743,223,018.26. This trade represents a 0.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have bought 3,568,100 shares of company stock worth $111,183,331. 5.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new stake in shares of PBF Energy during the second quarter worth about $26,000. CWM LLC increased its position in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the last quarter. Quarry LP purchased a new stake in shares of PBF Energy during the third quarter worth about $48,000. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy during the third quarter worth about $59,000. Finally, Blue Trust Inc. increased its position in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares during 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.
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