Piper Sandler Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price target lifted by Piper Sandler from $29.00 to $42.00 in a report published on Friday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the oil and gas company’s stock.

A number of other analysts have also commented on the company. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a report on Monday, September 15th. Morgan Stanley set a $27.00 target price on PBF Energy and gave the company an “underweight” rating in a research report on Friday, October 3rd. Scotiabank upped their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. TD Cowen lifted their price objective on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of PBF Energy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average price target of $28.92.

PBF Energy Stock Up 4.0%

Shares of NYSE:PBF traded up $1.50 during trading on Friday, hitting $38.92. 1,824,103 shares of the company’s stock traded hands, compared to its average volume of 2,828,102. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -8.37 and a beta of 0.79. The company has a 50-day moving average price of $31.91 and a 200-day moving average price of $25.87. PBF Energy has a 52 week low of $13.61 and a 52 week high of $41.47.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.50) earnings per share. As a group, research analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 14th. PBF Energy’s payout ratio is currently -23.66%.

Insider Activity at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total value of $8,627,500.00. Following the completion of the transaction, the director directly owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total value of $2,041,500.00. Following the completion of the sale, the senior vice president owned 205,340 shares in the company, valued at $8,384,032.20. This trade represents a 19.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 507,045 shares of company stock worth $18,193,421 in the last quarter. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in PBF Energy in the 1st quarter worth about $242,000. Principal Financial Group Inc. grew its stake in shares of PBF Energy by 1.1% in the first quarter. Principal Financial Group Inc. now owns 227,352 shares of the oil and gas company’s stock worth $4,340,000 after acquiring an additional 2,514 shares during the period. M&T Bank Corp purchased a new position in shares of PBF Energy during the first quarter valued at approximately $300,000. Allworth Financial LP lifted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the period. Finally, CWM LLC lifted its position in PBF Energy by 290.9% during the first quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 4,029 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.