JPMorgan Chase & Co. Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF - Free Report) had its price target lowered by JPMorgan Chase & Co. from $36.00 to $35.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company's stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley decreased their price objective on PBF Energy from $48.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. 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. TD Cowen cut shares of PBF Energy from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. Bank of America assumed coverage on shares of PBF Energy in a research note on Thursday, October 17th. They set an "underperform" rating and a $25.00 target price on the stock. Finally, Piper Sandler lowered PBF Energy from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $32.00.

PBF Energy Stock Performance

Shares of PBF stock traded up $0.97 on Friday, reaching $28.02. The stock had a trading volume of 2,784,042 shares, compared to its average volume of 1,945,073. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88. The stock has a market cap of $3.23 billion, a P/E ratio of -10.82 and a beta of 1.61. The company has a 50 day simple moving average of $29.12 and a 200 day simple moving average of $33.38.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the previous year, the business posted $6.61 earnings per share. The company's revenue for the quarter was down 21.9% on a year-over-year basis. Equities research analysts expect that PBF Energy will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.93%. This is a boost from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy's dividend payout ratio is -42.47%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital purchased 287,100 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of $31.91 per share, with a total value of $9,161,361.00. Following the acquisition, the insider now owns 24,751,498 shares in the company, valued at approximately $789,820,301.18. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders bought 3,369,600 shares of company stock worth $102,820,721. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of PBF Energy by 391.9% during 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 last quarter. American Century Companies Inc. boosted its stake in PBF Energy by 3.4% during the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company's stock worth $45,712,000 after buying an additional 32,862 shares during the period. BNP Paribas Financial Markets increased its position in PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock valued at $26,717,000 after acquiring an additional 492,053 shares during the last quarter. Private Management Group Inc. raised its stake in shares of PBF Energy by 27.5% in the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock valued at $26,267,000 after acquiring an additional 183,183 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company's stock worth $29,883,000 after acquiring an additional 84,532 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.