PBF Energy (NYSE:PBF) Downgraded to "Sell" Rating by TD Cowen

TD Cowen cut shares of PBF Energy (NYSE:PBF - Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have $20.00 target price on the oil and gas company's stock, down from their previous target price of $27.00.

Other analysts have also recently issued reports about the company. Bank of America began coverage on PBF Energy in a report on Thursday, October 17th. They set an "underperform" rating and a $25.00 price objective on the stock. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Piper Sandler cut shares of PBF Energy from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Wells Fargo & Company downgraded shares of PBF Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Finally, BMO Capital Markets downgraded shares of PBF Energy from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Seven equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of "Hold" and an average target price of $32.45.

PBF Energy Price Performance

PBF traded down $0.31 during trading on Friday, hitting $25.15. 6,485,914 shares of the company traded hands, compared to its average volume of 2,175,057. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.90 billion, a PE ratio of -9.71 and a beta of 1.57. The stock's 50-day simple moving average is $30.79 and its two-hundred day simple moving average is $35.44. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). The firm had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company's revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.61 EPS. As a group, sell-side analysts anticipate that PBF Energy will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Wednesday, November 13th. PBF Energy's dividend payout ratio (DPR) is currently -42.47%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 40,000 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were acquired at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the purchase, the insider now directly owns 23,407,398 shares of the company's stock, valued at approximately $723,990,820.14. The trade was a 0.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 3,659,600 shares of company stock valued at $112,411,021 in the last quarter. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of PBF Energy in the 2nd quarter worth approximately $26,000. Quarry LP bought a new position in PBF Energy in the third quarter worth approximately $48,000. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy during the third quarter worth $59,000. Blue Trust Inc. lifted its stake 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 worth $68,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 purchasing an additional 573 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

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.