PBF Energy Inc. (PBF) Stock Price Down 7.3%
Shares of PBF Energy Inc. (NYSE:PBF) fell 7.3% during trading on Tuesday . The stock traded as low as $21.86 and last traded at $21.96, with a volume of 2,212,233 shares changing hands. The stock had previously closed at $23.69.
Several research firms have commented on PBF. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, June 10th. Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Credit Suisse Group AG reissued a “buy” rating and set a $32.00 price target on shares of PBF Energy in a research report on Thursday, June 16th. Goldman Sachs Group Inc. lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $26.00 in a research report on Wednesday, June 29th. Finally, Tudor Pickering lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. PBF Energy currently has an average rating of “Hold” and a consensus price target of $30.58.
The firm’s market cap is $2.14 billion. The firm has a 50-day moving average of $22.60 and a 200 day moving average of $26.69.
PBF Energy (NYSE:PBF) last released its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.87 by $0.73. The firm earned $3.86 billion during the quarter, compared to analyst estimates of $3.06 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Analysts expect that PBF Energy Inc. will post ($0.30) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 5th. This is an increase from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.50%. PBF Energy’s payout ratio is currently 12,012.01%.
In related news, insider Connor Thomas L. O acquired 10,000 shares of the stock in a transaction dated Friday, September 9th. The stock was acquired at an average cost of $21.73 per share, with a total value of $217,300.00. Following the completion of the transaction, the insider now owns 50,000 shares in the company, valued at approximately $1,086,500. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The disclosure for this purchase can be found here. Insiders own 5.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. 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 bought a new position in shares of PBF Energy during the first quarter worth approximately $201,000. Acrospire Investment Management LLC bought a new position in shares of PBF Energy during the first quarter worth approximately $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 owned by institutional investors and hedge funds.
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.
Receive News & Ratings for PBF Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.