PBF Energy (NYSE:PBF) Downgraded by Mizuho to "Underperform"

Mizuho lowered shares of PBF Energy (NYSE:PBF - Free Report) from a neutral rating to an underperform rating in a report issued on Monday morning, Marketbeat reports. Mizuho currently has $31.00 price objective on the oil and gas company's stock, down from their prior price objective of $33.00.

PBF has been the subject of a number of other research reports. BMO Capital Markets downgraded shares of PBF Energy from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, September 9th. Tudor Pickering upgraded PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. StockNews.com lowered PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered PBF Energy from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.09.

PBF Energy Stock Performance

NYSE:PBF traded down $1.42 during trading hours on Monday, reaching $27.84. 2,387,196 shares of the stock were exchanged, compared to its average volume of 2,145,084. PBF Energy has a 52 week low of $27.68 and a 52 week high of $62.88. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.21 billion, a P/E ratio of -10.81 and a beta of 1.57. The firm has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $35.82.

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

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's dividend payout ratio is currently -42.47%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 265,000 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $31.87 per share, for a total transaction of $8,445,550.00. Following the completion of the acquisition, the insider now directly owns 23,217,398 shares in the company, valued at $739,938,474.26. This represents a 1.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have purchased 3,568,100 shares of company stock worth $111,183,331. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PBF. Leavell Investment Management Inc. lifted its holdings in PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company's stock valued at $488,000 after acquiring an additional 460 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company's stock worth $893,000 after purchasing an additional 485 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in PBF Energy by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company's stock valued at $400,000 after purchasing an additional 543 shares during the last quarter. Highland Capital Management LLC boosted its holdings in PBF Energy by 14.2% during the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company's stock worth $202,000 after buying an additional 546 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in PBF Energy in the second quarter worth approximately $26,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.