PBF Energy Inc. (PBF) Upgraded to “B” by TheStreet
A number of other research firms have also recently issued reports on PBF. Zacks Investment Research upgraded PBF Energy from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Saturday, October 14th. ValuEngine upgraded PBF Energy from a sell rating to a hold rating in a report on Friday, September 1st. Barclays PLC reaffirmed an underweight rating and set a $26.00 price target (up previously from $24.00) on shares of PBF Energy in a research note on Tuesday, October 10th. Citigroup Inc. cut their target price on PBF Energy from $33.50 to $33.00 and set a buy rating on the stock in a research note on Monday, August 7th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $28.00 target price on shares of PBF Energy in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. PBF Energy currently has a consensus rating of Hold and an average target price of $26.22.
Shares of PBF Energy (PBF) traded up $0.64 on Thursday, reaching $31.47. The company had a trading volume of 2,376,679 shares, compared to its average volume of 1,873,650. The stock has a market cap of $3,382.53, a PE ratio of 65.60, a PEG ratio of 2.37 and a beta of 1.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business posted ($0.16) EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. analysts expect that PBF Energy will post 1.3 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, November 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.81%. PBF Energy’s payout ratio is 57.42%.
Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of PBF Energy by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock valued at $264,551,000 after purchasing an additional 953,577 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PBF Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after purchasing an additional 141,619 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PBF Energy by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock valued at $205,480,000 after purchasing an additional 635,728 shares during the last quarter. BlackRock Inc. increased its stake in shares of PBF Energy by 94.0% in the 2nd quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock valued at $202,832,000 after purchasing an additional 4,415,117 shares during the last quarter. Finally, State Street Corp increased its stake in shares of PBF Energy by 48.0% in the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 shares during the last quarter.
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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