Bank of America upgraded shares of PBF Energy (NYSE:PBF – Free Report) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat reports. They currently have $74.00 price target on the oil and gas company’s stock, up from their previous price target of $52.00.
Several other equities research analysts also recently weighed in on the company. UBS Group decreased their price target on PBF Energy from $53.00 to $49.00 and set a neutral rating for the company in a report on Thursday, December 7th. Citigroup began coverage on shares of PBF Energy in a report on Wednesday, January 24th. They issued a neutral rating on the stock. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $55.00 to $54.00 and set an overweight rating for the company in a report on Tuesday, February 20th. TD Cowen raised their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the company a market perform rating in a research report on Friday, February 16th. Finally, StockNews.com cut PBF Energy from a buy rating to a hold rating in a research report on Monday, December 18th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $54.80.
View Our Latest Research Report on PBF
PBF Energy Stock Up 3.6 %
PBF stock opened at $56.65 on Friday. PBF Energy has a 12 month low of $31.25 and a 12 month high of $58.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 3.44 and a beta of 1.71. The company has a fifty day moving average price of $47.96 and a 200 day moving average price of $47.36.
PBF Energy (NYSE:PBF – Get Free Report) 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 for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.41 EPS. Sell-side analysts expect that PBF Energy will post 6.16 earnings per share for the current year.
PBF Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio is currently 6.08%.
Insider Activity at PBF Energy
In other PBF Energy news, SVP Trecia M. Canty sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $46.69, for a total transaction of $466,900.00. Following the sale, the senior vice president now directly owns 89,587 shares in the company, valued at $4,182,817.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PBF Energy news, SVP Trecia M. Canty sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $46.69, for a total value of $466,900.00. Following the sale, the senior vice president now owns 89,587 shares of the company’s stock, valued at $4,182,817.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital acquired 770,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were acquired at an average cost of $42.95 per share, with a total value of $33,071,500.00. Following the completion of the purchase, the insider now owns 13,832,998 shares in the company, valued at $594,127,264.10. The disclosure for this purchase can be found here. Insiders bought 1,268,200 shares of company stock valued at $54,251,872 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.
Institutional Trading of PBF Energy
Several institutional investors and hedge funds have recently made changes to their positions in PBF. Creekmur Asset Management LLC purchased a new position in shares of PBF Energy during the fourth quarter valued at approximately $29,000. Fifth Third Bancorp raised its holdings in PBF Energy by 39.8% in 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 last quarter. Fortitude Family Office LLC purchased a new position in shares of PBF Energy during the 4th quarter worth $44,000. Farther Finance Advisors LLC boosted its holdings in shares of PBF Energy by 473.5% during the second quarter. Farther Finance Advisors LLC now owns 1,210 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 999 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of PBF Energy in the third quarter valued at $87,000. 89.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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