Mizuho Cuts PBF Energy (NYSE:PBF) Price Target to $36.00

PBF Energy (NYSE:PBF) had its price target trimmed by Mizuho from $42.00 to $36.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts also recently issued reports on PBF. Piper Sandler downgraded shares of PBF Energy from a neutral rating to an underweight rating and dropped their price objective for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Tudor Pickering upgraded PBF Energy to a strong sell rating in a research report on Monday, September 9th. UBS Group lowered their price objective on PBF Energy from $57.00 to $44.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Finally, Wolfe Research started coverage on PBF Energy in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of Hold and a consensus price target of $40.55.

PBF Energy Price Performance

NYSE PBF opened at $33.14 on Wednesday. The stock has a 50-day simple moving average of $33.50 and a 200 day simple moving average of $43.27. PBF Energy has a twelve month low of $30.17 and a twelve month high of $62.88. The stock has a market capitalization of $3.93 billion, a PE ratio of 2.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

PBF Energy (NYSE:PBF) last posted 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). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Research analysts anticipate that PBF Energy will post -0.05 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid 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 currently 6.92%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 55,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $30.85 per share, for a total transaction of $1,696,750.00. Following the transaction, the insider now owns 23,462,398 shares in the company, valued at $723,814,978.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 2,952,300 shares of company stock valued at $97,300,026 in the last three months. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew 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 valued at $26,000 after purchasing an additional 224 shares during the last quarter. National Bank of Canada FI bought a new position in PBF Energy in the 2nd quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of PBF Energy in the 1st quarter valued at $27,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy during the fourth quarter worth $29,000. Finally, CWM LLC lifted its stake in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the period. Institutional investors and hedge funds 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.