PBF Energy (NYSE:PBF) Given New $35.00 Price Target at JPMorgan Chase & Co.

PBF Energy (NYSE:PBF) had its price objective cut by JPMorgan Chase & Co. from $36.00 to $35.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on PBF. Scotiabank dropped their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Bank of America initiated coverage on PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Finally, BMO Capital Markets cut 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 research report on Friday, October 4th. Seven research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.00.

PBF Energy Price Performance

PBF Energy stock opened at $28.02 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The company’s fifty day moving average price is $29.12 and its 200 day moving average price is $33.38. The stock has a market capitalization of $3.23 billion, a P/E ratio of -10.82 and a beta of 1.61. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) 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 net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business earned $6.61 EPS. The firm’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, November 13th. This is a boost 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 3.93%. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 287,100 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average price of $31.91 per share, with a total value of $9,161,361.00. Following the completion of the transaction, the insider now directly owns 24,751,498 shares in the company, valued at $789,820,301.18. This trade represents a 1.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 3,369,600 shares of company stock worth $102,820,721. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Neo Ivy Capital Management acquired a new position in PBF Energy during the 3rd quarter worth about $2,404,000. Dakota Wealth Management purchased a new position in PBF Energy in the 3rd quarter valued at approximately $694,000. Intech Investment Management LLC boosted its holdings in PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after buying an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after buying an additional 26,952 shares during the period. 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.