Morgan Stanley Cuts PBF Energy (NYSE:PBF) Price Target to $38.00

PBF Energy (NYSE:PBF) had its price objective trimmed by Morgan Stanley from $48.00 to $38.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company lowered their price objective on PBF Energy from $52.00 to $51.00 and set an overweight rating for the company in a research report on Tuesday, September 3rd. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Tudor Pickering upgraded shares of PBF Energy to a strong sell rating in a report on Monday, September 9th. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a peer perform rating for the company. Finally, The Goldman Sachs Group cut their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $49.91.

PBF Energy Trading Up 0.5 %

Shares of PBF stock opened at $33.22 on Monday. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 2.30 and a beta of 1.56. 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 firm has a 50-day moving average price of $36.01 and a 200 day moving average price of $45.78. PBF Energy has a twelve month low of $30.61 and a twelve month high of $62.88.

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 analysts’ consensus estimates of ($0.15) by ($0.39). The firm 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 business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 EPS. Research analysts forecast that PBF Energy will post 1.25 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 3.01%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is currently 6.92%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 102,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $44.91 per share, with a total value of $4,580,820.00. Following the acquisition, the insider now directly owns 17,453,598 shares in the company, valued at $783,841,086.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders purchased 2,684,300 shares of company stock worth $93,389,546. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in PBF Energy during the second quarter worth $275,000. Sanctuary Advisors LLC acquired a new stake in shares of PBF Energy during the second quarter worth $1,176,000. Invst LLC lifted its position in shares of PBF Energy by 6.2% in the 2nd quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock worth $770,000 after buying an additional 965 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of PBF Energy by 11.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock valued at $623,000 after buying an additional 1,436 shares during the period. Finally, Creative Planning grew its position in shares of PBF Energy by 7.0% during the 2nd quarter. Creative Planning now owns 17,895 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 1,165 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.