PBF Energy (NYSE:PBF) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of PBF Energy (NYSE:PBF) from a buy rating to a hold rating in a report published on Saturday morning.

Other research analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Scotiabank upgraded PBF Energy to a “hold” rating in a report on Friday, March 27th. Citigroup increased their price target on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group initiated coverage on PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $33.54.

PBF Energy Trading Down 12.6%

Shares of PBF stock opened at $37.27 on Friday. PBF Energy has a fifty-two week low of $14.54 and a fifty-two week high of $52.18. The company has a 50 day moving average price of $41.36 and a 200 day moving average price of $35.24. The stock has a market capitalization of $4.36 billion, a P/E ratio of -25.35, a price-to-earnings-growth ratio of 0.22 and a beta of 0.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned ($2.82) EPS. Equities research analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. PBF Energy’s payout ratio is presently -74.83%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 1,100,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the sale, the insider directly owned 22,996,898 shares in the company, valued at $1,062,686,656.58. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 11,100,825 shares of company stock valued at $488,323,877 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Merit Financial Group LLC raised its position in shares of PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 276 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in PBF Energy by 2.5% in the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System boosted its holdings in PBF Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock valued at $774,000 after purchasing an additional 353 shares in the last quarter. Next Level Private LLC increased its stake in PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after purchasing an additional 378 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PBF Energy by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 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 is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.