JPMorgan Chase & Co. Lowers PBF Energy (NYSE:PBF) Price Target to $35.00

PBF Energy (NYSE:PBF) had its price target lowered by JPMorgan Chase & Co. from $36.00 to $35.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas company’s stock.

PBF has been the subject of a number of other reports. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Seven equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Trading Up 3.6 %

Shares of PBF Energy stock opened at $28.02 on Friday. PBF Energy has a 12-month low of $24.21 and a 12-month high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.23 billion, a PE ratio of -10.82 and a beta of 1.61. The company has a 50-day moving average of $29.12 and a two-hundred day moving average of $33.22.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business earned $6.61 earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. On average, research analysts anticipate that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.275 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio is currently -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 287,100 shares of PBF Energy stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average price of $31.91 per share, for a total transaction of $9,161,361.00. Following the transaction, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders purchased 3,369,600 shares of company stock valued at $102,820,721. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in PBF Energy by 391.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after acquiring an additional 1,226,909 shares in the last quarter. American Century Companies Inc. raised its position in shares of PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock valued at $45,712,000 after purchasing an additional 32,862 shares during the period. BNP Paribas Financial Markets raised its position in shares of PBF Energy by 132.6% in the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after purchasing an additional 492,053 shares during the period. Private Management Group Inc. grew its stake in shares of PBF Energy by 27.5% in the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock worth $26,267,000 after acquiring an additional 183,183 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of PBF Energy by 14.8% in the second quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after acquiring an additional 84,532 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.