PBF Energy (NYSE:PBF) Given New $27.00 Price Target at TD Cowen

PBF Energy (NYSE:PBF - Free Report) had its target price lowered by TD Cowen from $32.00 to $27.00 in a report issued on Friday morning, MarketBeat.com reports. The firm currently has a hold rating on the oil and gas company's stock.

A number of other brokerages also recently commented on PBF. Wells Fargo & Company reduced their target price on shares of PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Scotiabank reduced their target price on PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Piper Sandler downgraded PBF Energy from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Tudor Pickering raised shares of PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Finally, Morgan Stanley lowered 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. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $34.45.

PBF Energy Stock Down 1.6 %

NYSE PBF traded down $0.45 on Friday, reaching $28.07. 2,739,947 shares of the stock traded hands, compared to its average volume of 2,179,454. 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 has a fifty day moving average price of $32.28 and a 200-day moving average price of $40.69. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 4.75 and a beta of 1.55. PBF Energy has a 12 month low of $27.94 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.10). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.61 EPS. As a group, research analysts forecast that PBF Energy will post -2.27 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.92%. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy's dividend payout ratio (DPR) is 16.64%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 50,000 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $35.60 per share, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 4,307,400 shares of company stock worth $137,242,347. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently modified their holdings of PBF. National Bank of Canada FI acquired a new position in PBF Energy in the 2nd quarter worth about $26,000. CWM LLC raised its stake in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock worth $50,000 after buying an additional 569 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy during the 3rd quarter worth approximately $59,000. Blue Trust Inc. lifted its position in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company's stock valued at $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock worth $81,000 after acquiring an additional 573 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other 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.