TD Cowen Trims PBF Energy (NYSE:PBF) Target Price to $45.00

PBF Energy (NYSE:PBF) had its price target trimmed by TD Cowen from $54.00 to $45.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a hold rating on the oil and gas company’s stock.

PBF has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an overweight rating in a report on Monday, April 1st. Scotiabank increased their price target on shares of PBF Energy from $39.00 to $56.00 and gave the stock a sector perform rating in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of PBF Energy from $65.00 to $71.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on shares of PBF Energy from $50.00 to $61.00 and gave the company a neutral rating in a research note on Friday, April 5th. Finally, Citigroup began coverage on PBF Energy in a research report on Wednesday, January 24th. They issued a neutral rating on the stock. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PBF Energy has an average rating of Hold and a consensus price target of $57.91.

PBF Energy Trading Down 1.4 %

PBF Energy stock traded down $0.74 during mid-day trading on Friday, reaching $51.86. 1,900,000 shares of the company traded hands, compared to its average volume of 1,508,346. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. PBF Energy has a 52-week low of $31.25 and a 52-week high of $62.88. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73. The firm’s 50 day moving average price is $54.99 and its 200 day moving average price is $48.93.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 18.49% and a net margin of 4.95%. PBF Energy’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.41 earnings per share. On average, analysts anticipate that PBF Energy will post 7.75 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 1.93%. PBF Energy’s dividend payout ratio is 6.92%.

Insider Transactions at PBF Energy

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares of the company’s stock, valued at $8,958,084.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $10,074,600 over the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. GAMMA Investing LLC lifted its position in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of PBF Energy during the 1st quarter valued at about $27,000. Creekmur Asset Management LLC bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $29,000. Fifth Third Bancorp grew its stake in shares of PBF Energy by 39.8% during the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 230 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in PBF Energy in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.