UBS Group Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price objective reduced by UBS Group from $29.00 to $26.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on PBF. The Goldman Sachs Group lowered their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and lowered their target price for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.55.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $23.13 on Wednesday. The business’s fifty day simple moving average is $27.62 and its 200 day simple moving average is $30.73. The firm has a market capitalization of $2.66 billion, a P/E ratio of -4.91 and a beta of 1.60. PBF Energy has a 12 month low of $22.03 and a 12 month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last released its earnings results 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 business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital purchased 409,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the acquisition, the insider now owns 27,368,498 shares in the company, valued at $864,297,166.84. This trade represents a 1.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 1,868,500 shares of company stock worth $55,348,810 over the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Xponance Inc. increased its stake in PBF Energy by 2.6% in the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 364 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after purchasing an additional 459 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 460 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of PBF Energy by 0.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock worth $1,931,000 after buying an additional 480 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after buying an additional 485 shares during the last quarter. 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.