PBF Energy (NYSE:PBF) Given New $29.00 Price Target at JPMorgan Chase & Co.

PBF Energy (NYSE:PBF) had its target price trimmed by JPMorgan Chase & Co. from $31.00 to $29.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

PBF has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. TD Cowen reduced their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday. UBS Group reduced their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, Piper Sandler reduced their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average target price of $28.55.

PBF Energy Price Performance

Shares of NYSE PBF opened at $20.12 on Tuesday. The firm’s 50-day moving average price is $26.33 and its 200-day moving average price is $29.32. PBF Energy has a 1-year low of $18.97 and a 1-year high of $62.88. The firm has a market capitalization of $2.32 billion, a P/E ratio of -4.27 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.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. Equities research analysts anticipate that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 70,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the acquisition, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 1,062,500 shares of company stock valued at $28,442,290. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after buying an additional 392,776 shares during the period. Neo Ivy Capital Management purchased a new stake in PBF Energy in the 3rd quarter worth approximately $2,404,000. Intech Investment Management LLC lifted its stake in PBF Energy by 165.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after purchasing an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP lifted its stake in PBF Energy by 40.5% in the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after purchasing an additional 26,952 shares in the last quarter. 96.29% of the stock is 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.