PBF Energy Inc. (PBF) Shares Gap Up to $31.29
PBF Energy Inc. (NYSE:PBF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $30.63, but opened at $31.29. PBF Energy shares last traded at $30.77, with a volume of 2642300 shares traded.
A number of brokerages have issued reports on PBF. Zacks Investment Research cut PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Royal Bank Of Canada reissued a “hold” rating and issued a $30.00 price target on shares of PBF Energy in a research note on Tuesday, November 7th. TheStreet raised PBF Energy from a “c” rating to a “b” rating in a research note on Thursday, November 2nd. Scotiabank reissued a “buy” rating on shares of PBF Energy in a research note on Friday, November 3rd. Finally, Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.00.
The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.81. The company has a market cap of $3,443.03, a PE ratio of 66.57, a P/E/G ratio of 1.97 and a beta of 1.42.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.22 by $0.22. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. research analysts forecast that PBF Energy Inc. will post 1.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, November 10th. This represents a $1.20 annualized dividend and a yield of 3.90%. PBF Energy’s payout ratio is currently 57.42%.
Large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. boosted its holdings in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 1,580 shares in the last quarter. Creative Planning boosted its holdings in PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 2,503 shares in the last quarter. Flinton Capital Management LLC bought a new position in PBF Energy in the second quarter worth approximately $119,000. Huntington National Bank bought a new position in PBF Energy in the second quarter worth approximately $126,000. Finally, Sei Investments Co. boosted its holdings in PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 4,814 shares in the last quarter.
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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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