PBF Energy Inc. (NYSE:PBF) shares shot up 5.5% during mid-day trading on Wednesday . The company traded as high as $24.03 and last traded at $23.99, with a volume of 3,412,211 shares traded. The stock had previously closed at $22.74.

PBF has been the topic of several research analyst reports. Barclays PLC reissued an “equal weight” rating and set a $26.00 target price on shares of PBF Energy in a research report on Monday. Credit Suisse Group AG reissued a “buy” rating and set a $30.00 target price on shares of PBF Energy in a research report on Thursday, July 14th. Wells Fargo & Co. reissued an “outperform” rating on shares of PBF Energy in a research report on Monday, July 11th. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Finally, Goldman Sachs Group Inc. downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $26.00 in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.73.

The stock’s market capitalization is $2.35 billion. The stock’s 50-day moving average is $22.81 and its 200-day moving average is $28.59.

PBF Energy (NYSE:PBF) last issued its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. During the same quarter last year, the business posted $0.88 earnings per share. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that PBF Energy Inc. will post $0.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 5th. This is an increase from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 5.00%.

In related news, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were bought at an average cost of $27.40 per share, for a total transaction of $1,370,000.00. Following the completion of the purchase, the chief executive officer now directly owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew C. Lucey purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was bought at an average price of $27.50 per share, for a total transaction of $275,000.00. Following the completion of the purchase, the president now directly owns 50,000 shares of the company’s stock, valued at $1,375,000. The disclosure for this purchase can be found here.

Other institutional investors recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of PBF Energy by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 9,542,681 shares of the company’s stock valued at $351,265,000 after buying an additional 833,867 shares in the last quarter. Systematic Financial Management LP raised its position in shares of PBF Energy by 47.8% in the fourth quarter. Systematic Financial Management LP now owns 651,134 shares of the company’s stock valued at $23,968,000 after buying an additional 210,585 shares in the last quarter. UBS Oconnor LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $16,133,000. Zweig DiMenna Associates LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $13,896,000. Finally, New York State Common Retirement Fund raised its position in shares of PBF Energy by 34.7% in the fourth quarter. New York State Common Retirement Fund now owns 265,710 shares of the company’s stock valued at $9,781,000 after buying an additional 68,410 shares in the last quarter.

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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