UBS Group Cuts PBF Energy (NYSE:PBF) Price Target to $26.00

PBF Energy (NYSE:PBF) had its target price reduced by UBS Group from $29.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price target on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and reduced their price target for the stock from $27.00 to $20.00 in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.55.

PBF Energy Stock Performance

PBF Energy stock opened at $23.13 on Wednesday. The stock has a market cap of $2.66 billion, a PE ratio of -4.91 and a beta of 1.60. 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 business’s 50-day moving average price is $27.62 and its two-hundred day moving average price is $30.73. PBF Energy has a 12-month low of $22.03 and a 12-month high of $62.88.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 4.76%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 57,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $31.70 per share, for a total transaction of $1,806,900.00. Following the acquisition, the insider now owns 26,739,498 shares of the company’s stock, valued at approximately $847,642,086.60. This represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 1,868,500 shares of company stock worth $55,348,810 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in shares of PBF Energy during the 4th quarter worth about $803,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PBF Energy by 7.5% in 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 acquiring an additional 17,404 shares in the last quarter. iSAM Funds UK Ltd bought a new position in PBF Energy in the fourth quarter worth approximately $508,000. Vident Advisory LLC lifted its holdings in shares of PBF Energy by 9.5% in the 4th quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 698 shares in the last quarter. Finally, Towle & Co. increased its position in shares of PBF Energy by 34.2% during the fourth quarter. Towle & Co. now owns 535,451 shares of the oil and gas company’s stock worth $14,216,000 after acquiring an additional 136,394 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

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.