PBF Energy (NYSE:PBF) Lowered to “Sell” at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. cut shares of PBF Energy (NYSE:PBF) from a hold rating to a sell rating in a research report released on Monday, MarketBeat reports.

A number of other equities analysts also recently weighed in on the company. Scotiabank reduced their price target on PBF Energy from $56.00 to $45.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Wolfe Research began coverage on shares of PBF Energy in a research report on Thursday, July 18th. They set a peer perform rating on the stock. JPMorgan Chase & Co. decreased their price objective on PBF Energy from $58.00 to $53.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. UBS Group dropped their target price on PBF Energy from $57.00 to $44.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. Finally, Piper Sandler decreased their price target on PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $52.30.

PBF Energy Stock Performance

Shares of PBF opened at $31.97 on Monday. The firm has a market cap of $3.75 billion, a P/E ratio of 2.21 and a beta of 1.57. PBF Energy has a twelve month low of $31.78 and a twelve month high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The firm’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $46.51.

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

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 600,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $44.13 per share, for a total transaction of $26,478,000.00. Following the transaction, the insider now directly owns 16,004,098 shares in the company, valued at approximately $706,260,844.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 3,420,900 shares of company stock worth $134,467,138 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in PBF Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after acquiring an additional 69,422 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PBF Energy by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock valued at $324,487,000 after purchasing an additional 120,414 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management grew its holdings in shares of PBF Energy by 2.7% during the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after purchasing an additional 34,470 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of PBF Energy in the fourth quarter valued at approximately $54,832,000. 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.