PBF Energy (NYSE:PBF) Price Target Lowered to $22.00 at Wells Fargo & Company

PBF Energy (NYSE:PBF) had its price target decreased by Wells Fargo & Company from $25.00 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the oil and gas company’s stock.

Several other equities analysts have also issued reports on the company. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, UBS Group decreased their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.36.

PBF Energy Trading Up 5.2 %

Shares of PBF Energy stock opened at $20.70 on Thursday. PBF Energy has a 12-month low of $18.97 and a 12-month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.39 billion, a P/E ratio of -4.39 and a beta of 1.62. The stock has a fifty day simple moving average of $25.93 and a 200 day simple moving average of $29.08.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, sell-side analysts anticipate that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 70,000 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $25.56 per share, for a total transaction of $1,789,200.00. Following the purchase, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 1,062,500 shares of company stock worth $28,442,290. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of PBF. Hara Capital LLC grew its position in shares of PBF Energy by 7.8% during the 4th quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company’s stock valued at $14,486,000 after purchasing an additional 39,278 shares in the last quarter. Phocas Financial Corp. purchased a new position in PBF Energy during the fourth quarter worth about $254,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PBF Energy in the 4th quarter worth about $3,132,000. GF Fund Management CO. LTD. purchased a new stake in shares of PBF Energy in the 4th quarter valued at about $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PBF Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock valued at $6,622,000 after acquiring an additional 17,404 shares during the last quarter. 96.29% of the stock is 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.