PBF Energy (NYSE:PBF) Upgraded at Tudor Pickering

Tudor Pickering upgraded shares of PBF Energy (NYSE:PBF) to a strong sell rating in a research note issued to investors on Monday, Zacks.com reports.

PBF has been the subject of several other reports. Tudor, Pickering, Holt & Co. cut PBF Energy from a hold rating to a sell rating in a research report on Monday. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $57.00 to $50.00 and set a neutral rating on the stock in a research report on Monday, July 1st. UBS Group dropped their price target on shares of PBF Energy from $57.00 to $44.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Mizuho decreased their price objective on PBF Energy from $58.00 to $54.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Finally, Piper Sandler dropped their target price on PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PBF Energy has a consensus rating of Hold and an average price target of $52.30.

PBF Energy Price Performance

NYSE PBF opened at $32.33 on Monday. The stock has a market capitalization of $3.79 billion, a PE ratio of 2.24 and a beta of 1.57. The stock has a 50-day simple moving average of $37.30 and a 200 day simple moving average of $46.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy has a twelve month low of $31.57 and a twelve month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Research analysts anticipate that PBF Energy will post 1.61 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 38,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $43.65 per share, with a total value of $1,658,700.00. Following the completion of the purchase, the insider now directly owns 16,042,098 shares of the company’s stock, valued at approximately $700,237,577.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 3,017,500 shares of company stock valued at $116,572,314. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. GAMMA Investing LLC raised its holdings in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the period. Rise Advisors LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at $27,000. National Bank of Canada FI acquired a new stake in PBF Energy during the 2nd quarter worth $26,000. Creekmur Asset Management LLC bought a new position in PBF Energy during the fourth quarter worth about $29,000. Finally, CWM LLC grew its stake in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the period. Institutional investors own 96.29% of the company’s stock.

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.