PBF Energy (NYSE:PBF) Downgraded to “Sell” Rating by Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. lowered shares of PBF Energy (NYSE:PBF) from a hold rating to a sell rating in a research report released on Monday, MarketBeat.com reports. They currently have $24.00 price target on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler boosted their price objective on shares of PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, September 11th. Morgan Stanley boosted their target price on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Citigroup boosted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Bank of America boosted their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Reduce” and an average price target of $25.54.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $27.90 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy has a twelve month low of $13.61 and a twelve month high of $34.31. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -3.25 and a beta of 0.97. The company’s fifty day moving average is $25.25 and its 200 day moving average is $21.52.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. PBF Energy’s revenue for the quarter was down 14.4% on a year-over-year basis. Sell-side analysts forecast that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy’s dividend payout ratio is presently -12.81%.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after acquiring an additional 3,612,447 shares during the period. AQR Capital Management LLC grew its position in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after acquiring an additional 1,454,500 shares during the period. Norges Bank bought a new position in shares of PBF Energy during the 2nd quarter valued at approximately $24,599,000. BNP Paribas Financial Markets grew its position in shares of PBF Energy by 276.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after acquiring an additional 755,310 shares during the period. Finally, Nuveen LLC bought a new position in shares of PBF Energy during the 1st quarter valued at approximately $13,600,000. 96.29% of the stock is owned by institutional investors.

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.