TD Cowen Trims PBF Energy (NYSE:PBF) Target Price to $45.00

PBF Energy (NYSE:PBF) had its price objective cut by TD Cowen from $54.00 to $45.00 in a research report report published on Friday, MarketBeat Ratings reports. They currently have a hold rating on the oil and gas company’s stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler lifted their target price on PBF Energy from $50.00 to $61.00 and gave the stock a neutral rating in a report on Friday, April 5th. Mizuho cut shares of PBF Energy from a buy rating to a neutral rating and lifted their price objective for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a report on Monday, April 1st. Bank of America raised shares of PBF Energy from a neutral rating to a buy rating and raised their target price for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Finally, Citigroup started coverage on PBF Energy in a research note on Wednesday, January 24th. They issued a neutral rating for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has a consensus rating of Hold and an average price target of $57.91.

PBF Energy Stock Performance

Shares of PBF stock traded down $0.01 during midday trading on Friday, hitting $51.85. 1,874,284 shares of the company were exchanged, compared to its average volume of 2,137,208. The firm has a market capitalization of $6.20 billion, a P/E ratio of 3.59 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. PBF Energy has a 52 week low of $32.24 and a 52 week high of $62.88. The firm’s 50 day moving average price is $55.07 and its two-hundred day moving average price is $48.95.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a return on equity of 18.49% and a net margin of 4.95%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the prior year, the firm earned $4.41 EPS. The company’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts anticipate that PBF Energy will post 7.75 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, May 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Activity

In related news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares in the company, valued at approximately $8,829,813.66. The sale was disclosed in a filing with the SEC, which is available through this link. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the sale, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,000 shares of company stock worth $10,074,600. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PBF. Vanguard Group Inc. increased its position in 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 acquiring an additional 69,422 shares during the period. Dimensional Fund Advisors LP increased its holdings in PBF Energy by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock valued at $324,487,000 after purchasing an additional 120,414 shares during the period. Assetmark Inc. lifted its holdings in PBF Energy by 84.5% during the 3rd quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company’s stock worth $75,491,000 after buying an additional 645,976 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of PBF Energy by 26.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company’s stock valued at $75,001,000 after buying an additional 291,284 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of PBF Energy by 20.4% in the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock valued at $56,045,000 after buying an additional 216,400 shares during the period. Institutional investors 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.