PBF Energy Inc. (PBF) Shares Down 3.1%
PBF Energy Inc. (NYSE:PBF) shares fell 3.1% during mid-day trading on Thursday . The company traded as low as $23.16 and last traded at $23.24, with a volume of 1,267,799 shares traded. The stock had previously closed at $23.99.
A number of brokerages have issued reports on PBF. Simmons increased their target price on shares of PBF Energy from $27.00 to $28.00 in a research report on Tuesday, April 12th. Goldman Sachs Group Inc. restated a “buy” rating on shares of PBF Energy in a research report on Wednesday, April 27th. Barclays PLC restated an “equal weight” rating and set a $26.00 target price on shares of PBF Energy in a research report on Monday. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Finally, Royal Bank Of Canada began coverage on shares of PBF Energy in a research report on Tuesday, April 12th. They set a “sector perform” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and an average price target of $33.73.
The firm’s market capitalization is $2.22 billion. The stock’s 50-day moving average is $22.77 and its 200-day moving average is $28.59.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.73. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.06 billion. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, analysts forecast that PBF Energy Inc. will post $0.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.29%. This is an increase from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 5th.
In other PBF Energy news, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were bought at an average price of $27.40 per share, with a total value of $1,370,000.00. Following the completion of the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $3,014,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Matthew C. Lucey purchased 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $275,000.00. Following the transaction, the president now owns 50,000 shares of the company’s stock, valued at $1,375,000. The disclosure for this purchase can be found here.
Several hedge funds have bought and sold shares of PBF. Airain ltd acquired a new stake in PBF Energy during the fourth quarter valued at about $1,467,000. Deere & Co. raised its stake in PBF Energy by 131.4% in the fourth quarter. Deere & Co. now owns 41,677 shares of the company’s stock worth $1,534,000 after buying an additional 23,669 shares during the period. Rhumbline Advisers raised its stake in PBF Energy by 19.7% in the fourth quarter. Rhumbline Advisers now owns 64,067 shares of the company’s stock worth $2,358,000 after buying an additional 10,540 shares during the period. State of Wisconsin Investment Board raised its stake in PBF Energy by 9.2% in the fourth quarter. State of Wisconsin Investment Board now owns 70,130 shares of the company’s stock worth $2,581,000 after buying an additional 5,930 shares during the period. Finally, Globeflex Capital L P raised its stake in PBF Energy by 93.1% in the fourth quarter. Globeflex Capital L P now owns 85,631 shares of the company’s stock worth $3,152,000 after buying an additional 41,276 shares during the period.
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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