PBF Energy Inc. (PBF) Price Target Cut to $27.00
PBF Energy Inc. (NYSE:PBF) had its price target cut by Deutsche Bank AG from $28.00 to $27.00 in a research report report published on Thursday morning. They currently have a hold rating on the stock.
Other research analysts also recently issued reports about the stock. Credit Suisse Group AG reaffirmed a buy rating and set a $32.00 price objective on shares of PBF Energy in a research report on Thursday, June 16th. JPMorgan Chase & Co. reissued a buy rating on shares of PBF Energy in a research report on Sunday, June 12th. Barclays PLC reissued an equal weight rating and issued a $26.00 target price on shares of PBF Energy in a research report on Monday, August 1st. Tudor Pickering downgraded shares of PBF Energy from a buy rating to a hold rating in a research report on Monday, August 8th. Finally, Wolfe Research downgraded shares of PBF Energy from an outperform rating to a market perform rating in a research report on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. PBF Energy presently has an average rating of Hold and a consensus target price of $30.58.
Shares of PBF Energy (NYSE:PBF) opened at 21.83 on Thursday. The company’s market cap is $2.14 billion. PBF Energy has a 52-week low of $20.57 and a 52-week high of $41.75. The stock has a 50 day moving average of $22.58 and a 200 day moving average of $26.62.
PBF Energy (NYSE:PBF) last announced 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. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that PBF Energy will post ($0.29) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were issued a $0.30 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 5.50%. PBF Energy’s dividend payout ratio is presently 12,012.01%.
In related news, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the acquisition, the chief executive officer now directly owns 160,000 shares in the company, valued at $3,494,400. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Connor Thomas L. O acquired 10,000 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the acquisition, the insider now owns 50,000 shares in the company, valued at $1,086,500. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of PBF Energy by 31.3% in the first quarter. Wellington Management Group LLP now owns 2,364,437 shares of the company’s stock worth $78,498,000 after buying an additional 564,092 shares in the last quarter. State Street Corp raised its stake in shares of PBF Energy by 2.3% in the first quarter. State Street Corp now owns 2,176,116 shares of the company’s stock worth $72,252,000 after buying an additional 49,356 shares in the last quarter. Quotient Investors LLC bought a new stake in shares of PBF Energy during the first quarter worth approximately $847,000. M&T Bank Corp bought a new stake in shares of PBF Energy during the first quarter worth approximately $201,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of PBF Energy by 57.7% in the first quarter. Loomis Sayles & Co. L P now owns 13,732 shares of the company’s stock worth $456,000 after buying an additional 5,027 shares in the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.
About PBF Energy
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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