Piper Sandler Downgrades PBF Energy (NYSE:PBF) to Underweight

Piper Sandler downgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to an underweight rating in a report published on Friday, MarketBeat reports. The firm currently has $25.00 price target on the oil and gas company’s stock, down from their prior price target of $47.00.

PBF has been the subject of several other research reports. Tudor Pickering raised shares of PBF Energy to a strong sell rating in a research report on Monday, September 9th. Wells Fargo & Company reduced their target price on PBF Energy from $52.00 to $51.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on PBF Energy from $58.00 to $53.00 and set an overweight rating on the stock in a report on Tuesday, July 2nd. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a hold rating to a sell rating in a report on Monday, September 9th. Finally, Mizuho lowered their target price on shares of PBF Energy from $48.00 to $42.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, PBF Energy currently has an average rating of Hold and a consensus price target of $47.91.

PBF Energy Stock Down 5.5 %

NYSE PBF opened at $32.02 on Friday. The business’s 50-day moving average is $35.70 and its 200 day moving average is $45.55. The stock has a market capitalization of $3.80 billion, a PE ratio of 2.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy has a 1 year low of $30.61 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. Sell-side analysts forecast that PBF Energy will post 1.25 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. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.12%. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 140,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $45.73 per share, for a total transaction of $6,402,200.00. Following the purchase, the insider now directly owns 17,772,598 shares in the company, valued at $812,740,906.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have bought 2,584,300 shares of company stock valued at $88,958,546. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of PBF Energy during the 1st quarter worth $27,000. National Bank of Canada FI acquired a new position in shares of PBF Energy during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in shares of PBF Energy in the fourth quarter valued at about $29,000. Finally, CWM LLC increased its position in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 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.