PBF Energy Inc. (PBF) Shares Up 3.7%
PBF Energy Inc. (NYSE:PBF) shares shot up 3.7% during mid-day trading on Thursday . The company traded as high as $22.87 and last traded at $22.78, with a volume of 1,167,296 shares trading hands. The stock had previously closed at $21.97.
A number of brokerages have issued reports on PBF. JPMorgan Chase & Co. restated a “buy” rating on shares of PBF Energy in a research note on Sunday, June 12th. Zacks Investment Research cut PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 4th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of PBF Energy in a research report on Wednesday, April 27th. Credit Suisse Group AG dropped their price target on PBF Energy from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, April 25th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of PBF Energy in a research report on Monday, July 11th. One 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 an average target price of $33.73.
The firm’s 50 day moving average is $22.60 and its 200-day moving average is $28.17. The firm’s market cap is $2.23 billion.
PBF Energy (NYSE:PBF) last posted its earnings results 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 business 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. During the same period last year, the firm posted $0.88 earnings per share. Equities analysts forecast that PBF Energy Inc. will post ($0.38) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 5th.
In other PBF Energy news, President Matthew C. Lucey bought 10,000 shares of PBF Energy stock in a transaction on Wednesday, June 1st. The stock was acquired at an average price of $27.50 per share, with a total value of $275,000.00. Following the acquisition, the president now owns 50,000 shares in the company, valued at $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 bought 50,000 shares of PBF Energy stock in a transaction on Wednesday, June 1st. The stock was acquired at an average cost of $27.40 per share, with a total value of $1,370,000.00. Following the acquisition, the chief executive officer now owns 110,000 shares in the company, valued at approximately $3,014,000. The disclosure for this purchase can be found here.
Other hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of PBF Energy by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 9,542,681 shares of the company’s stock valued at $351,265,000 after buying an additional 833,867 shares during the last quarter. Foresters Investment Management Company Inc. purchased a new stake in shares of PBF Energy during the fourth quarter valued at approximately $9,313,000. New York State Common Retirement Fund raised its stake in shares of PBF Energy by 34.7% in the fourth quarter. New York State Common Retirement Fund now owns 265,710 shares of the company’s stock valued at $9,781,000 after buying an additional 68,410 shares during the last quarter. Trexquant Investment LP raised its stake in shares of 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. Finally, Airain ltd purchased a new stake in shares of PBF Energy during the fourth quarter 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.