PBF Energy (NYSE:PBF) Price Target Lowered to $28.00 at Morgan Stanley

PBF Energy (NYSE:PBF) had its price objective lowered by Morgan Stanley from $31.00 to $28.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group cut 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. TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday. Piper Sandler cut their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Finally, Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.36.

PBF Energy Trading Up 5.2 %

Shares of PBF opened at $20.70 on Friday. PBF Energy has a twelve month low of $18.97 and a twelve month high of $62.88. The company has a market cap of $2.39 billion, a P/E ratio of -4.39 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $25.93 and its 200-day simple moving average is $29.10.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. As a group, analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.32%. The ex-dividend date was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the acquisition, the insider now owns 30,249,998 shares of the company’s stock, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 1,062,500 shares of company stock worth $28,442,290 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently modified their holdings of the company. Xponance Inc. boosted its holdings in shares of PBF Energy by 2.6% in the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 364 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after buying an additional 459 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted 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 valued at $1,931,000 after buying an additional 480 shares in the last quarter. Spire Wealth Management raised its position in shares of PBF Energy by 28.2% in the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 585 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.