PBF Energy (NYSE:PBF) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of PBF Energy (NYSE:PBF - Free Report) in a research note released on Thursday morning, MarketBeat.com reports. The brokerage issued an underperform rating and a $25.00 price objective on the oil and gas company's stock.

A number of other equities research analysts have also issued reports on PBF. Piper Sandler lowered PBF Energy from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Morgan Stanley cut their price target on PBF Energy from $48.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. BMO Capital Markets downgraded PBF Energy from an "outperform" rating to a "market perform" rating and cut their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. UBS Group cut their price target on PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Finally, 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. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, PBF Energy currently has an average rating of "Hold" and an average target price of $36.09.

PBF Energy Price Performance

PBF stock traded up $1.22 on Thursday, reaching $33.62. The company had a trading volume of 3,249,844 shares, compared to its average volume of 2,156,756. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company's fifty day moving average is $33.27 and its 200 day moving average is $42.74. The company has a market cap of $3.99 billion, a P/E ratio of 2.33 and a beta of 1.55.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the company posted $2.29 EPS. PBF Energy's quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that PBF Energy will post -0.05 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.97%. PBF Energy's 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 firm's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $35.60 per share, with a total value of $1,780,000.00. Following the transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 3,952,300 shares of company stock valued at $129,050,026 in the last ninety days. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hennessy Advisors Inc. increased its stake in shares of PBF Energy by 18.4% in the first quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company's stock valued at $33,329,000 after purchasing an additional 89,900 shares during the period. Van ECK Associates Corp increased its stake in shares of PBF Energy by 763.4% in the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company's stock valued at $12,008,000 after purchasing an additional 184,426 shares during the period. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 4.8% in the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company's stock valued at $60,689,000 after purchasing an additional 48,525 shares during the period. Magnetar Financial LLC acquired a new position in shares of PBF Energy during the first quarter valued at approximately $1,394,000. Finally, Inspire Investing LLC acquired a new position in shares of PBF Energy during the first quarter valued at approximately $905,000. 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.