PBF Energy (NYSE:PBF) Price Target Cut to $35.00 by Analysts at JPMorgan Chase & Co.

PBF Energy (NYSE:PBF) had its target price cut by JPMorgan Chase & Co. from $36.00 to $35.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $39.00 to $34.00 in a report on Monday, December 9th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Scotiabank lowered their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Finally, Bank of America started coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective for the company. Seven research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $32.00.

PBF Energy Trading Up 3.6 %

PBF opened at $28.02 on Friday. The stock has a 50-day moving average of $29.12 and a 200 day moving average of $33.38. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. PBF Energy has a 12 month low of $24.21 and a 12 month high of $62.88. The firm has a market cap of $3.23 billion, a P/E ratio of -10.82 and a beta of 1.61.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.61 earnings per share. As a group, research analysts forecast that PBF Energy will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.93%. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 287,100 shares of PBF Energy stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the completion of the purchase, the insider now directly owns 24,751,498 shares in the company, valued at $789,820,301.18. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 3,369,600 shares of company stock valued at $102,820,721 in the last three months. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently bought and sold shares of PBF. National Bank of Canada FI purchased a new position in shares of PBF Energy during the second quarter worth $26,000. Quest Partners LLC acquired a new position in shares of PBF Energy in the 2nd quarter valued at about $202,000. Headlands Technologies LLC boosted its stake in shares of PBF Energy by 560.7% in the second quarter. Headlands Technologies LLC now owns 9,395 shares of the oil and gas company’s stock worth $432,000 after buying an additional 7,973 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after buying an additional 32,862 shares during the last quarter. Finally, BOKF NA grew its holdings in PBF Energy by 113.2% during the second quarter. BOKF NA now owns 10,387 shares of the oil and gas company’s stock worth $478,000 after acquiring an additional 5,516 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.