PBF Energy (NYSE:PBF) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of PBF Energy (NYSE:PBF) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $40.00 price objective on the oil and gas company’s stock, down from their previous price objective of $53.00.

A number of other analysts have also issued reports on PBF. Wolfe Research began coverage on shares of PBF Energy in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Mizuho lowered their target price on shares of PBF Energy from $48.00 to $42.00 and set a neutral rating for the company in a research note on Monday, September 16th. Piper Sandler downgraded PBF Energy from a neutral rating to an underweight rating and cut their price target for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Wells Fargo & Company dropped their price objective on shares of PBF Energy from $52.00 to $51.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley reduced their target price on shares of PBF Energy from $48.00 to $38.00 and set an equal weight rating for the company in a research note on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $43.45.

PBF Energy Stock Down 2.1 %

PBF opened at $32.99 on Wednesday. The company has a market cap of $3.91 billion, a PE ratio of 2.28 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. The firm has a 50 day moving average price of $34.14 and a 200 day moving average price of $44.09.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 EPS. Sell-side analysts expect that PBF Energy will post 0.35 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 50,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the acquisition, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders purchased 2,952,300 shares of company stock valued at $97,300,026. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its holdings in PBF Energy by 56.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 15,482 shares of the oil and gas company’s stock worth $648,000 after acquiring an additional 5,599 shares during the period. Rafferty Asset Management LLC raised its stake in shares of PBF Energy by 26.2% in the 4th quarter. Rafferty Asset Management LLC now owns 172,198 shares of the oil and gas company’s stock valued at $7,570,000 after purchasing an additional 35,756 shares during the period. Privium Fund Management UK Ltd raised its holdings in shares of PBF Energy by 12.0% in the fourth quarter. Privium Fund Management UK Ltd now owns 6,825 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 731 shares during the last quarter. Seven Eight Capital LP lifted its position in PBF Energy by 138.5% during the 4th quarter. Seven Eight Capital LP now owns 12,359 shares of the oil and gas company’s stock worth $543,000 after buying an additional 7,177 shares in the last quarter. Finally, Symmetry Investments LP increased its position in shares of PBF Energy by 592.0% in the fourth quarter. Symmetry Investments LP now owns 77,500 shares of the oil and gas company’s stock valued at $3,407,000 after acquiring an additional 66,300 shares during the last quarter. Institutional investors and hedge funds 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.