The Goldman Sachs Group Cuts PBF Energy (NYSE:PBF) Price Target to $39.00

PBF Energy (NYSE:PBF) had its target price decreased by The Goldman Sachs Group from $45.00 to $39.00 in a report released on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. Mizuho dropped their price objective on shares of PBF Energy from $48.00 to $42.00 and set a neutral rating on the stock in a report on Monday, September 16th. Piper Sandler downgraded PBF Energy from a neutral rating to an underweight rating and dropped their price target for the company from $47.00 to $25.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. downgraded PBF Energy from an overweight rating to a neutral rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a hold rating to a sell rating in a research report on Monday, September 9th. Finally, Morgan Stanley cut their price objective on shares of PBF Energy from $48.00 to $38.00 and set an equal weight rating on the stock in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $43.45.

PBF Energy Stock Down 2.1 %

Shares of PBF Energy stock opened at $32.99 on Friday. The stock has a market cap of $3.86 billion, a PE ratio of 2.28 and a beta of 1.55. PBF Energy has a 12 month low of $30.17 and a 12 month high of $62.88. The business has a fifty day simple moving average of $34.14 and a 200 day simple moving average of $44.00. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. Research analysts predict that PBF Energy will post 0.35 EPS for the current year.

PBF Energy Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 50,000 shares of PBF Energy stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the transaction, the insider now owns 18,179,598 shares in the company, valued at $647,193,688.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 2,952,300 shares of company stock valued at $97,300,026 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise grew its stake in PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock worth $105,000 after buying an additional 172 shares in the last quarter. GAMMA Investing LLC grew its position in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of PBF Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock worth $7,863,000 after acquiring an additional 359 shares during the last quarter. US Bancorp DE boosted its stake in shares of 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 valued at $452,000 after purchasing an additional 395 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of PBF Energy in the 1st quarter valued at approximately $27,000. 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.