PBF Energy (NYSE:PBF) Downgraded 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 note issued to investors on Monday, Marketbeat.com reports.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of PBF Energy from $52.00 to $51.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Scotiabank dropped their price target on PBF Energy from $56.00 to $45.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Wolfe Research initiated coverage on PBF Energy in a report on Thursday, July 18th. They issued a peer perform rating for the company. JPMorgan Chase & Co. decreased their price objective on PBF Energy from $58.00 to $53.00 and set an overweight rating on the stock in a research note on Tuesday, July 2nd. Finally, UBS Group dropped their price objective on PBF Energy from $57.00 to $44.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of Hold and a consensus target price of $52.30.

PBF Energy Price Performance

PBF stock opened at $31.15 on Monday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 2.16 and a beta of 1.57. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $37.01 and a 200-day moving average of $46.30. PBF Energy has a 12-month low of $30.61 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. As a group, equities analysts expect that PBF Energy will post 1.61 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 38,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of $43.65 per share, with a total value of $1,658,700.00. Following the transaction, the insider now owns 16,042,098 shares in the company, valued at $700,237,577.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 3,017,500 shares of company stock valued at $116,572,314 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently added to or reduced their stakes in PBF. GAMMA Investing LLC lifted its stake in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of PBF Energy during the 1st quarter valued at about $27,000. National Bank of Canada FI acquired a new position in PBF Energy during the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in PBF Energy during the 4th quarter worth approximately $29,000. Finally, CWM LLC boosted its holdings in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the period. 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.