PBF Energy (NYSE:PBF) Price Target Lowered to $36.00 at TD Cowen

PBF Energy (NYSE:PBF) had its price target decreased by TD Cowen from $41.00 to $36.00 in a research report released on Monday,Benzinga reports. TD Cowen currently has a sell rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Wall Street Zen lowered PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Mizuho lifted their target price on PBF Energy from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, Scotiabank lifted their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and an average price target of $35.38.

PBF Energy Stock Up 0.0%

PBF stock opened at $40.75 on Monday. PBF Energy has a twelve month low of $16.20 and a twelve month high of $52.18. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a market cap of $4.77 billion, a PE ratio of -27.72, a price-to-earnings-growth ratio of 0.26 and a beta of 0.25. The business has a 50 day moving average of $42.02 and a 200 day moving average of $35.70.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned ($2.82) EPS. On average, research analysts forecast that PBF Energy will post 3.94 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.7%. PBF Energy’s payout ratio is presently -74.83%.

Insider Transactions at PBF Energy

In related news, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction on Friday, March 27th. The stock was sold at an average price of $51.48, for a total value of $2,574,000.00. Following the completion of the sale, the senior vice president owned 183,426 shares of the company’s stock, valued at $9,442,770.48. The trade was a 21.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Nimbley sold 50,000 shares of PBF Energy stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 11,051,825 shares of company stock worth $486,676,087. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the period. State Street Corp grew its holdings in shares of PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after acquiring an additional 60,294 shares during the period. Invesco Ltd. grew its holdings in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC grew its holdings in shares of PBF Energy by 20.1% in the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after acquiring an additional 418,223 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in PBF Energy by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company’s stock valued at $65,108,000 after purchasing an additional 331,404 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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.