Mizuho Cuts PBF Energy (NYSE:PBF) Price Target to $33.00

PBF Energy (NYSE:PBF) had its price target lowered by Mizuho from $36.00 to $33.00 in a report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on PBF. Scotiabank dropped their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group reduced their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Wolfe Research assumed coverage on PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $25.00 in a report on Friday, September 20th. Finally, Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.18.

PBF Energy Stock Down 0.0 %

PBF traded down $0.01 on Monday, hitting $28.34. 301,176 shares of the company were exchanged, compared to its average volume of 2,168,759. The company has a market cap of $3.32 billion, a PE ratio of -10.97 and a beta of 1.56. PBF Energy has a 12 month low of $27.94 and a 12 month high of $62.88. The stock’s fifty day moving average is $32.05 and its 200-day moving average is $40.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $6.61 earnings per share. Equities research analysts predict that PBF Energy will post -2.32 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.275 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.88%. PBF Energy’s payout ratio is presently -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average price of $30.93 per share, for a total transaction of $1,237,200.00. Following the completion of the acquisition, the insider now owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 4,257,400 shares of company stock valued at $135,462,347. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently modified their holdings of the stock. US Bancorp DE raised its holdings in PBF Energy by 5.3% in the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock worth $452,000 after acquiring an additional 395 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in shares of PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after buying an additional 460 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of PBF Energy by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after acquiring an additional 485 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of PBF Energy by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 543 shares during the period. Finally, Highland Capital Management LLC increased its stake in shares of PBF Energy by 14.2% in the 2nd quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $202,000 after purchasing an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.