Morgan Stanley Cuts PBF Energy (NYSE:PBF) Price Target to $28.00

PBF Energy (NYSE:PBF - Free Report) had its target price reduced by Morgan Stanley from $31.00 to $28.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the oil and gas company's stock.

Other equities analysts have also issued research reports about the company. UBS Group lowered their price objective on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company lowered their price objective on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group lowered their price objective on PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 10th. Finally, TD Cowen decreased their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, PBF Energy currently has a consensus rating of "Hold" and an average price target of $27.36.

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PBF Energy Price Performance

Shares of NYSE:PBF traded down $0.63 during trading on Friday, reaching $21.67. The stock had a trading volume of 1,975,833 shares, compared to its average volume of 2,087,682. 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 business has a fifty day moving average price of $25.74 and a 200-day moving average price of $28.89. The stock has a market cap of $2.50 billion, a PE ratio of -4.60 and a beta of 1.62. PBF Energy has a 1-year low of $18.97 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, equities analysts forecast that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 5.08%. PBF Energy's dividend payout ratio (DPR) is -23.35%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital acquired 70,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the transaction, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 1,062,500 shares of company stock worth $28,442,290 in the last quarter. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PBF. T. Rowe Price Investment Management Inc. boosted its position in shares of PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after acquiring an additional 1,272,254 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company's stock valued at $47,663,000 after purchasing an additional 1,226,909 shares during the period. Norges Bank acquired a new stake in shares of PBF Energy in the 4th quarter valued at about $20,896,000. Recurrent Investment Advisors LLC boosted its position in shares of PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after purchasing an additional 573,161 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of PBF Energy by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after purchasing an additional 562,287 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

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.