Morgan Stanley Cuts PBF Energy (NYSE:PBF) Price Target to $28.00

PBF Energy (NYSE:PBF) had its price target decreased by Morgan Stanley from $31.00 to $28.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group dropped their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. TD Cowen dropped their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Price Performance

Shares of NYSE PBF opened at $20.70 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -4.39 and a beta of 1.62. PBF Energy has a 12 month low of $18.97 and a 12 month high of $62.88. The firm’s 50 day simple moving average is $25.93 and its 200-day simple moving average is $29.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 5.32%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 341,500 shares of PBF Energy stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the acquisition, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. The trade was a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 1,062,500 shares of company stock valued at $28,442,290 in the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after acquiring an additional 1,272,254 shares during the last quarter. American Century Companies Inc. boosted its position in shares of PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock valued at $49,532,000 after acquiring an additional 187,351 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after acquiring an additional 184,194 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after acquiring an additional 1,226,909 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PBF Energy by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock valued at $39,634,000 after acquiring an additional 78,045 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.