PBF Energy (NYSE:PBF) Lowered to Sell Rating by Tudor, Pickering, Holt & Co.

Key Points

• PBF Energy was downgraded from a "hold" rating to a "sell" rating by Tudor, Pickering, Holt & Co., with a price objective of $24.00, indicating a potential downside of 12.70% from its current price.
• Other analysts have varied opinions on PBF Energy, with Wells Fargo raising its target price from $21.00 to $24.00, and Citigroup increasing it from $16.00 to $29.00 while maintaining a "neutral" rating.
• The company reported a quarterly revenue of $7.48 billion but a net loss of $1.03 per share, reflecting a year-over-year revenue decrease of 14.4%.

Tudor, Pickering, Holt & Co. lowered shares of PBF Energy (NYSE:PBF - Free Report) from a hold rating to a sell rating in a research note published on Monday, MarketBeat reports. They currently have $24.00 price target on the oil and gas company's stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their target price on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley increased their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Bank of America increased their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a research report on Wednesday, September 3rd. Finally, Piper Sandler raised their price target on shares of PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $25.54.

PBF Energy Price Performance

NYSE PBF traded down $0.97 during trading on Monday, reaching $29.70. The company's stock had a trading volume of 1,822,130 shares, compared to its average volume of 3,230,991. The stock has a market capitalization of $3.44 billion, a PE ratio of -3.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The firm has a fifty day moving average of $25.50 and a 200 day moving average of $21.72. PBF Energy has a one year low of $13.61 and a one year high of $34.22.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The company's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.54) EPS. Analysts expect that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is currently -12.81%.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of PBF. T. Rowe Price Investment Management Inc. boosted its position in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after purchasing an additional 3,612,447 shares in the last quarter. AQR Capital Management LLC boosted its holdings in PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company's stock worth $45,183,000 after acquiring an additional 1,454,500 shares in the last quarter. Norges Bank purchased a new stake in shares of PBF Energy in the second quarter worth approximately $24,599,000. BNP Paribas Financial Markets raised its stake in shares of PBF Energy by 276.2% in the second quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company's stock worth $22,294,000 after purchasing an additional 755,310 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of PBF Energy in the first quarter worth approximately $13,600,000. Institutional investors and hedge funds 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.