PBF Energy (NYSE:PBF) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of PBF Energy (NYSE:PBF) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on PBF. Piper Sandler raised their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. The Goldman Sachs Group assumed coverage on PBF Energy in a report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price on the stock. Mizuho raised their target price on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Morgan Stanley raised their target price on PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $36.15.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $40.31 on Monday. PBF Energy has a twelve month low of $19.47 and a twelve month high of $52.18. The firm has a market cap of $4.77 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The business has a fifty day moving average of $41.96 and a 200-day moving average of $37.25.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.53) earnings per share. On average, equities research analysts predict that PBF Energy will post 6.7 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 2.7%. PBF Energy’s payout ratio is presently 29.65%.

Insider Activity at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total transaction of $2,531,000.00. Following the transaction, the director owned 790,716 shares of the company’s stock, valued at $40,026,043.92. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Control Empresarial De Capital sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $43.17, for a total value of $4,317,000.00. Following the transaction, the insider directly owned 18,117,698 shares in the company, valued at $782,141,022.66. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,582,425 shares of company stock worth $358,083,629 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 242 shares during the last quarter. Bull Harbor Capital LLC bought a new position in PBF Energy during the 1st quarter worth $212,000. Amundi bought a new position in PBF Energy during the 1st quarter worth $1,574,000. EverSource Wealth Advisors LLC increased its position in PBF Energy by 24.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock worth $225,000 after buying an additional 931 shares during the period. Finally, California State Teachers Retirement System increased its position in PBF Energy by 23.6% during the 1st quarter. California State Teachers Retirement System now owns 101,282 shares of the oil and gas company’s stock worth $4,823,000 after buying an additional 19,354 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.