PBF Energy Inc. (PBF) Price Target Cut to $27.00
PBF Energy Inc. (NYSE:PBF) had its target price lowered by Deutsche Bank AG from $28.00 to $27.00 in a research note published on Thursday morning. The brokerage currently has a hold rating on the stock.
A number of other research firms also recently weighed in on PBF. Wolfe Research downgraded PBF Energy from an outperform rating to a market perform rating in a report on Monday, June 20th. Credit Suisse Group AG reissued a buy rating and set a $32.00 target price on shares of PBF Energy in a report on Thursday, June 16th. JPMorgan Chase & Co. reissued a buy rating on shares of PBF Energy in a report on Sunday, June 12th. Wells Fargo & Co. reissued an outperform rating on shares of PBF Energy in a report on Monday, July 11th. Finally, Goldman Sachs Group Inc. downgraded 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 report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average 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. The firm’s 50-day moving average is $22.58 and its 200-day moving average is $26.62. PBF Energy has a one year low of $20.57 and a one year high of $41.75.
PBF Energy (NYSE:PBF) last released 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 positive return on equity of 9.19% and a negative net margin of 0.02%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that PBF Energy will post ($0.29) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.30 per share. This is an increase 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 yield of 5.50%. PBF Energy’s payout ratio is presently 12,012.01%.
In other PBF Energy news, insider Connor Thomas L. O bought 10,000 shares of the stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $21.73 per share, with a total value of $217,300.00. Following the completion of the purchase, the insider now owns 50,000 shares in the company, valued at $1,086,500. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction on Friday, September 9th. The shares were acquired at an average cost of $21.84 per share, with a total value of $1,092,000.00. Following the purchase, the chief executive officer now owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The disclosure for this purchase can be found here. Company insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of PBF Energy by 30.0% in the first quarter. JPMorgan Chase & Co. now owns 7,780,171 shares of the company’s stock valued at $258,303,000 after buying an additional 1,797,388 shares during the last quarter. Prudential Financial Inc. increased its position in shares of PBF Energy by 491.2% in the second quarter. Prudential Financial Inc. now owns 1,483,614 shares of the company’s stock valued at $35,280,000 after buying an additional 1,232,654 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of PBF Energy by 63.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,085,580 shares of the company’s stock valued at $73,375,000 after buying an additional 1,192,834 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy during the fourth quarter valued at approximately $43,313,000. Finally, Anchor Capital Advisors LLC acquired a new position in shares of PBF Energy during the second quarter valued at approximately $20,597,000. 99.55% of the stock is 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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