Tudor Pickering Upgrades PBF Energy (NYSE:PBF) to Strong Sell

Tudor Pickering upgraded shares of PBF Energy (NYSE:PBF) to a strong sell rating in a research report report published on Monday, Zacks.com reports.

PBF has been the subject of several other research reports. Piper Sandler lowered their price objective on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a research report on Friday, June 14th. Wells Fargo & Company reduced their target price 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. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $57.00 to $50.00 and set a neutral rating on the stock in a research note on Monday, July 1st. Mizuho reduced their target price on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $58.00 to $53.00 and set an overweight rating on the stock in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $52.30.

PBF Energy Trading Down 3.6 %

PBF opened at $31.15 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.65 billion, a PE ratio of 2.16 and a beta of 1.57. PBF Energy has a 1-year low of $30.61 and a 1-year high of $62.88. The firm has a 50-day moving average price of $37.01 and a two-hundred day moving average price of $46.30.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 EPS. As a group, equities analysts anticipate that PBF Energy will post 1.61 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 38,000 shares of PBF Energy stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $43.65 per share, with a total value of $1,658,700.00. Following the purchase, the insider now directly owns 16,042,098 shares of the company’s stock, valued at $700,237,577.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 3,017,500 shares of company stock valued at $116,572,314 in the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

Several hedge funds have recently bought and sold shares of PBF. Norges Bank acquired a new stake in PBF Energy during the 4th quarter worth approximately $54,832,000. Janus Henderson Group PLC raised its holdings 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 valued at $34,811,000 after purchasing an additional 547,509 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of PBF Energy by 14,785.7% in the first 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 during the last quarter. Hsbc Holdings PLC raised its holdings in shares of PBF Energy by 246.5% in the second 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 during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of PBF Energy by 32.9% in the second 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 purchasing an additional 347,268 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.