PBF Energy Inc. (PBF) Stock Price Up 1.4%
PBF Energy Inc. (NYSE:PBF) rose 1.4% on Wednesday . The company traded as high as $23.72 and last traded at $23.58, with a volume of 1,083,315 shares traded. The stock had previously closed at $23.25.
PBF has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $21.00 in a research note on Monday, July 11th. Wells Fargo & Co. restated an “outperform” rating on shares of PBF Energy in a research note on Monday, July 11th. Goldman Sachs Group Inc. cut PBF Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $26.00 in a research note on Wednesday, June 29th. Credit Suisse Group AG restated a “buy” rating and set a $30.00 price objective on shares of PBF Energy in a research note on Thursday, July 14th. Finally, Wolfe Research cut PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.73.
The stock’s market cap is $2.32 billion. The firm’s 50-day moving average price is $22.60 and its 200 day moving average price is $27.81.
PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.73. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm earned $3.86 billion during the quarter, compared to analyst estimates of $3.06 billion. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that PBF Energy Inc. will post ($0.42) EPS for the current fiscal year.
The business 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. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.05%.
In related news, President Matthew C. Lucey bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased at an average cost of $27.50 per share, for a total transaction of $275,000.00. Following the completion of the acquisition, the president now owns 50,000 shares in the company, valued at approximately $1,375,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Nimbley bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was bought at an average price of $27.40 per share, with a total value of $1,370,000.00. Following the completion of the acquisition, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position 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 position 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. Trexquant Investment LP raised its position in PBF Energy by 93.6% in the fourth quarter. Trexquant Investment LP now owns 109,390 shares of the company’s stock worth $4,027,000 after buying an additional 52,876 shares during the period. Foresters Investment Management Company Inc. bought a new position in PBF Energy during the fourth quarter worth about $9,313,000. Finally, Airain ltd bought a new position in PBF Energy during the fourth quarter worth about $1,467,000.
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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