PBF Energy Inc. (PBF) PT Raised to $20.00 at Piper Jaffray Cos.
PBF Energy Inc. (NYSE:PBF) had its price objective hoisted by Piper Jaffray Cos. from $17.00 to $20.00 in a research report issued on Friday. The brokerage presently has a “neutral” rating on the stock. Piper Jaffray Cos.’s price target would indicate a potential downside of 15.58% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Goldman Sachs Group Inc. cut PBF Energy from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $23.00 to $19.00 in a report on Thursday, September 8th. Wolfe Research cut PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Credit Suisse Group AG reissued a “buy” rating and set a $30.00 price target on shares of PBF Energy in a report on Thursday, July 14th. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $21.00 in a report on Monday, July 11th. Finally, Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.58.
Shares of PBF Energy (NYSE:PBF) opened at 23.69 on Friday. The stock’s 50 day moving average price is $22.60 and its 200-day moving average price is $26.69. PBF Energy has a 52-week low of $20.57 and a 52-week high of $41.75. The firm’s market cap is $2.32 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by $0.73. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $0.88 EPS. PBF Energy’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that PBF Energy will post ($0.30) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.07%. This is an increase from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 5th. PBF Energy’s payout ratio is currently 12,012.01%.
In other PBF Energy news, insider Connor Thomas L. O acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were bought at an average cost of $21.73 per share, with a total value of $217,300.00. Following the purchase, the insider now directly owns 50,000 shares of the company’s stock, valued at $1,086,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was acquired at an average cost of $21.84 per share, for a total transaction of $1,092,000.00. Following the completion of the purchase, the chief executive officer now directly owns 160,000 shares in the company, valued at $3,494,400. The disclosure for this purchase can be found here. 5.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position in shares of PBF Energy by 49.3% in the second quarter. GSA Capital Partners LLP now owns 137,900 shares of the company’s stock worth $3,279,000 after buying an additional 45,565 shares in the last quarter. M&T Bank Corp acquired a new position in shares of PBF Energy during the first quarter worth about $201,000. Acrospire Investment Management LLC acquired a new position in shares of PBF Energy during the first quarter worth about $130,000. JPMorgan Chase & Co. increased its position in shares of 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. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of PBF Energy by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,408,922 shares of the company’s stock worth $79,976,000 after buying an additional 33,453 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.
PBF Energy Company Profile
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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