PBF Energy (NYSE:PBF) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of PBF Energy (NYSE:PBF) in a research note released on Thursday morning, Marketbeat reports. The brokerage issued an underperform rating and a $25.00 target price on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Scotiabank lowered their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Mizuho cut their target price on PBF Energy from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $36.09.

PBF Energy Price Performance

Shares of PBF stock opened at $33.70 on Thursday. The firm’s 50-day moving average is $33.12 and its two-hundred day moving average is $42.25. PBF Energy has a 12 month low of $30.17 and a 12 month high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market capitalization of $4.00 billion, a PE ratio of 2.33 and a beta of 1.55.

PBF Energy (NYSE:PBF) last issued 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). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. Analysts predict that PBF Energy will post -0.48 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is presently 6.92%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average price of $31.75 per share, for a total transaction of $31,750,000.00. Following the completion of the purchase, the insider now directly owns 24,462,398 shares of the company’s stock, valued at $776,681,136.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have bought 3,952,300 shares of company stock worth $129,050,026. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of PBF Energy by 1,291.1% during the 3rd 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 in the last quarter. Stratos Wealth Advisors LLC lifted its stake in PBF Energy by 105.8% during the third quarter. Stratos Wealth Advisors LLC now owns 43,709 shares of the oil and gas company’s stock worth $1,353,000 after purchasing an additional 22,470 shares during the last quarter. nVerses Capital LLC boosted its holdings in PBF Energy by 48.3% in the third quarter. nVerses Capital LLC now owns 8,600 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 2,800 shares in the last quarter. Bfsg LLC increased its stake in PBF Energy by 23.5% in the third quarter. Bfsg LLC now owns 7,120 shares of the oil and gas company’s stock valued at $220,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Creative Planning raised its holdings in PBF Energy by 50.3% during the third quarter. Creative Planning now owns 26,898 shares of the oil and gas company’s stock worth $832,000 after purchasing an additional 9,003 shares in the last quarter. Hedge funds and other institutional investors 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.