TD Cowen Cuts PBF Energy (NYSE:PBF) Price Target to $17.00

PBF Energy (NYSE:PBF) had its price objective lowered by TD Cowen from $19.00 to $17.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a sell rating on the oil and gas company’s stock.

PBF has been the subject of several other reports. The Goldman Sachs Group dropped their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Piper Sandler cut their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $33.00 to $31.00 in a report on Monday, December 16th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average target price of $28.27.

PBF Energy Stock Down 1.7 %

Shares of PBF opened at $19.69 on Tuesday. The stock has a 50 day moving average price of $26.06 and a 200 day moving average price of $29.19. PBF Energy has a one year low of $18.97 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -4.18 and a beta of 1.62.

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

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.59%. PBF Energy’s dividend payout ratio is presently -23.35%.

Insider Activity

In related news, insider Control Empresarial De Capital bought 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the acquisition, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This trade represents a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 1,062,500 shares of company stock valued at $28,442,290. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in PBF Energy by 27.9% in the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 573 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of PBF Energy by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 543 shares in the last quarter. Covestor Ltd lifted its stake in PBF Energy by 64.6% during the third quarter. Covestor Ltd now owns 2,780 shares of the oil and gas company’s stock worth $86,000 after purchasing an additional 1,091 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in PBF Energy by 44.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in PBF Energy by 76.8% in the third quarter. GSA Capital Partners LLP now owns 44,618 shares of the oil and gas company’s stock valued at $1,381,000 after purchasing an additional 19,375 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.