PBF Energy Inc. (PBF) Price Target Cut to $27.00
PBF Energy Inc. (NYSE:PBF) had its price target dropped by analysts at Deutsche Bank AG from $28.00 to $27.00 in a research note issued to investors on Thursday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s target price suggests a potential upside of 18.79% from the company’s previous close.
PBF has been the topic of several other reports. Credit Suisse Group AG reissued an “outperform” rating on shares of PBF Energy in a research report on Sunday, September 4th. Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price on shares of PBF Energy in a research report on Monday, August 1st. Goldman Sachs Group Inc. cut PBF Energy from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $23.00 to $19.00 in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $30.58.
PBF Energy (NYSE:PBF) opened at 22.73 on Thursday. The company has a 50 day moving average of $22.54 and a 200 day moving average of $26.93. The company’s market capitalization is $2.22 billion. PBF Energy has a 52-week low of $20.57 and a 52-week high of $41.75.
PBF Energy (NYSE:PBF) last announced its earnings results on Friday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.73. The firm earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.06 billion. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. On average, equities research analysts forecast that PBF Energy will post ($0.30) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were issued a $0.30 dividend. The ex-dividend date was Friday, August 5th. This is a boost from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 5.28%. PBF Energy’s payout ratio is currently 12,012.01%.
In other PBF Energy news, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average cost of $21.84 per share, with a total value of $1,092,000.00. Following the acquisition, the chief executive officer now owns 160,000 shares in the company, valued at $3,494,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the acquisition, the insider now owns 50,000 shares in the company, valued at approximately $1,086,500. The disclosure for this purchase can be found here. 5.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. JPMorgan Chase & Co. boosted its position in PBF Energy by 30.0% in the first quarter. JPMorgan Chase & Co. now owns 7,780,171 shares of the company’s stock worth $258,303,000 after buying an additional 1,797,388 shares in the last quarter. Prudential Financial Inc. boosted its position in PBF Energy by 491.2% in the second quarter. Prudential Financial Inc. now owns 1,483,614 shares of the company’s stock worth $35,280,000 after buying an additional 1,232,654 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in PBF Energy by 63.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,085,580 shares of the company’s stock worth $73,375,000 after buying an additional 1,192,834 shares in the last quarter. Norges Bank acquired a new position in PBF Energy during the fourth quarter worth approximately $43,313,000. Finally, Anchor Capital Advisors LLC acquired a new position in PBF Energy during the second quarter worth approximately $20,597,000. 99.53% of the stock is currently owned by institutional investors.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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