PBF Energy (NYSE:PBF) Sets New 1-Year Low After Analyst Downgrade

PBF Energy Inc. (NYSE:PBF)’s share price reached a new 52-week low on Wednesday after Mizuho lowered their price target on the stock from $28.00 to $22.00. Mizuho currently has an underperform rating on the stock. PBF Energy traded as low as $18.20 and last traded at $19.21, with a volume of 3660883 shares traded. The stock had previously closed at $19.09.

A number of other brokerages have also weighed in on PBF. JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley reduced their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Piper Sandler dropped their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. TD Cowen cut their target price on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company decreased their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.55.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 20,000 shares of PBF Energy stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the completion of the acquisition, the insider now owns 30,534,998 shares of the company’s stock, valued at $582,913,111.82. This trade represents a 0.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have purchased 671,000 shares of company stock worth $17,862,200. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the company. Hara Capital LLC raised its stake in shares of PBF Energy by 7.8% in the fourth quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company’s stock worth $14,486,000 after purchasing an additional 39,278 shares during the last quarter. Phocas Financial Corp. acquired a new stake in PBF Energy during the 4th quarter valued at approximately $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PBF Energy in the 4th quarter valued at $3,132,000. GF Fund Management CO. LTD. acquired a new stake in shares of PBF Energy in the fourth quarter worth $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PBF Energy by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock worth $6,622,000 after purchasing an additional 17,404 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Up 1.5 %

The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -4.15 and a beta of 1.62. The business’s 50-day moving average is $23.61 and its 200-day moving average is $27.95.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

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.