PBF Energy Inc. (PBF) Trading Down 2.8%
PBF Energy Inc. (NYSE:PBF) was down 2.8% on Thursday . The company traded as low as $22.45 and last traded at $22.59, with a volume of 1,290,510 shares changing hands. The stock had previously closed at $23.23.
A number of equities research analysts recently weighed in on PBF shares. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of PBF Energy in a report on Wednesday, April 27th. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 4th. JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Credit Suisse Group AG restated a “buy” rating and issued a $32.00 price target on shares of PBF Energy in a report on Thursday, June 16th. Finally, Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.73.
The company has a 50-day moving average of $22.54 and a 200-day moving average of $27.51. The stock’s market capitalization is $2.17 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.14 EPS for the quarter, missing the Zacks’ 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. PBF Energy’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. Equities research analysts forecast that PBF Energy Inc. will post ($0.42) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were paid a dividend of $0.30 per share. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, August 5th.
In related news, President Matthew C. Lucey acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was bought at an average price of $27.50 per share, with a total value of $275,000.00. Following the purchase, the president now directly owns 50,000 shares in the company, valued at approximately $1,375,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of $27.40 per share, with a total value of $1,370,000.00. Following the purchase, the chief executive officer now owns 110,000 shares in the company, valued at $3,014,000. The disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in PBF Energy stock. Airain ltd acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 39,855 shares of the company’s stock, valued at approximately $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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