PBF Energy Inc. (PBF) Shares Down 3.1%
PBF Energy Inc. (NYSE:PBF) traded down 3.1% on Thursday . The stock 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.
Several equities research analysts have weighed in on the company. Simmons increased their price target on PBF Energy from $27.00 to $28.00 in a research report on Tuesday, April 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of PBF Energy in a research report on Wednesday, April 27th. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price target on shares of PBF Energy in a research report on Monday, August 1st. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Finally, Royal Bank Of Canada assumed coverage on 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 given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $33.73.
The firm’s 50-day moving average price is $22.73 and its 200 day moving average price is $28.51. The company’s market cap is $2.24 billion.
PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.87 by $0.73. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that PBF Energy Inc. will post $0.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.24%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, August 5th.
In related news, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased 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 owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew C. Lucey purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were bought at an average cost of $27.50 per share, with a total value of $275,000.00. Following the transaction, the president now directly owns 50,000 shares of the company’s stock, valued at approximately $1,375,000. The disclosure for this purchase can be found here.
Several large investors have added to or reduced their stakes in the company. Airain ltd acquired a new stake in PBF Energy during the fourth quarter valued at about $1,467,000. Foresters Investment Management Company Inc. acquired a new stake in PBF Energy during the fourth quarter valued at about $9,313,000. Trexquant Investment LP raised its stake in PBF Energy by 93.6% in the fourth quarter. Trexquant Investment LP now owns 109,390 shares of the company’s stock valued at $4,027,000 after buying an additional 52,876 shares during the last quarter. Systematic Financial Management LP raised its stake in PBF Energy by 47.8% in the fourth quarter. Systematic Financial Management LP now owns 651,134 shares of the company’s stock valued at $23,968,000 after buying an additional 210,585 shares during the last quarter. Finally, 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 valued at $1,534,000 after buying an additional 23,669 shares during the last quarter.
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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