PBF Energy (NYSE:PBF) Given New $33.00 Price Target at Mizuho

PBF Energy (NYSE:PBF) had its price target decreased by Mizuho from $36.00 to $33.00 in a research report sent to investors on Monday, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on PBF. Wolfe Research initiated coverage on shares of PBF Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. The Goldman Sachs Group cut their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Finally, Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.18.

PBF Energy Stock Performance

Shares of PBF opened at $30.84 on Monday. PBF Energy has a one year low of $27.94 and a one year high of $62.88. The business has a fifty day moving average of $31.94 and a 200 day moving average of $39.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market capitalization of $3.61 billion, a P/E ratio of -11.91 and a beta of 1.56.

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 the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter last year, the company earned $6.61 EPS. As a group, sell-side analysts anticipate that PBF Energy will post -2.42 EPS for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.275 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.57%. PBF Energy’s payout ratio is presently -38.61%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital purchased 510,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $33.18 per share, for a total transaction of $16,921,800.00. Following the completion of the transaction, the insider now owns 19,129,598 shares of the company’s stock, valued at approximately $634,720,061.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 4,407,400 shares of company stock worth $139,761,347. 6.20% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares during the period. LSV Asset Management lifted its position in PBF Energy by 2.7% in the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after buying an additional 34,470 shares during the last quarter. American Century Companies Inc. boosted its stake in PBF Energy by 3.4% during the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after buying an additional 32,862 shares during the period. Private Management Group Inc. increased its position in PBF Energy by 27.5% during the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock valued at $26,267,000 after acquiring an additional 183,183 shares during the last quarter. Finally, AQR Capital Management LLC raised 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 valued at $29,883,000 after acquiring an additional 84,532 shares during the period. 96.29% of the stock is currently 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.