Wells Fargo & Company Trims PBF Energy (NYSE:PBF) Target Price to $39.00

PBF Energy (NYSE:PBF) had its target price decreased by Wells Fargo & Company from $51.00 to $39.00 in a report published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

Several other analysts have also commented on the company. Wolfe Research started coverage on PBF Energy in a report on Thursday, July 18th. They set a peer perform rating for the company. The Goldman Sachs Group lowered their price target on PBF Energy from $45.00 to $39.00 and set a neutral rating for the company in a report on Friday, October 4th. BMO Capital Markets downgraded shares of PBF Energy from an outperform rating to a market perform rating and cut their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. Mizuho lowered their target price on shares of PBF Energy from $42.00 to $36.00 and set a neutral rating for the company in a research note on Wednesday. Finally, Piper Sandler lowered shares of PBF Energy from a neutral rating to an underweight rating and cut their price target for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $40.55.

PBF Energy Trading Down 0.2 %

NYSE PBF opened at $33.14 on Wednesday. PBF Energy has a one year low of $30.17 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 5.51 and a beta of 1.55. The company’s 50-day simple moving average is $33.56 and its two-hundred day simple moving average is $43.51.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company 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 firm’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities analysts forecast that PBF Energy will post -0.05 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is 16.64%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 55,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $30.85 per share, with a total value of $1,696,750.00. Following the purchase, the insider now directly owns 23,462,398 shares of the company’s stock, valued at $723,814,978.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 2,952,300 shares of company stock valued at $97,300,026. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of PBF. Seven Eight Capital LP increased its stake in PBF Energy by 138.5% during the fourth quarter. Seven Eight Capital LP now owns 12,359 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 7,177 shares during the period. Oracle Alpha Inc. purchased a new position in PBF Energy in the 4th quarter valued at approximately $533,000. Creekmur Asset Management LLC purchased a new position in PBF Energy in the fourth quarter valued at $29,000. Vanguard Group Inc. raised its holdings in shares of PBF Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after purchasing an additional 69,422 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of PBF Energy by 205.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 231,800 shares of the oil and gas company’s stock worth $10,190,000 after purchasing an additional 156,000 shares during 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.