PBF Energy Inc. (PBF) Stock Price Up 3.7%
PBF Energy Inc. (NYSE:PBF) rose 3.7% on Thursday . The company traded as high as $22.87 and last traded at $22.78, with a volume of 1,167,296 shares. The stock had previously closed at $21.97.
PBF has been the subject of a number of recent research reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $30.00 price target on shares of PBF Energy in a research note on Thursday, July 14th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of PBF Energy in a research note on Sunday, June 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of PBF Energy in a research note 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 note on Monday, August 1st. Finally, Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.73.
The company has a 50-day moving average of $22.56 and a 200 day moving average of $28.09. The firm’s market cap is $2.26 billion.
PBF Energy (NYSE:PBF) last posted its earnings results on Friday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by $0.73. During the same period last year, the firm posted $0.88 earnings per share. The business earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.06 billion. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts anticipate that PBF Energy Inc. will post ($0.43) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 5th. This is a boost from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 5.19%.
In other news, President Matthew C. Lucey acquired 10,000 shares of PBF Energy stock in a transaction dated Wednesday, June 1st. The stock was bought at an average cost of $27.50 per share, with a total value of $275,000.00. Following the completion of the transaction, the president now directly owns 50,000 shares of the company’s stock, valued at $1,375,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction dated Wednesday, June 1st. The shares were purchased at an average cost 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 directly owns 110,000 shares of the company’s stock, valued at $3,014,000. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Airain ltd purchased a new position in PBF Energy during the fourth quarter valued at $1,467,000. Rhumbline Advisers boosted its position in PBF Energy by 19.7% in the fourth quarter. Rhumbline Advisers now owns 64,067 shares of the company’s stock valued at $2,358,000 after buying an additional 10,540 shares in the last quarter. State of Wisconsin Investment Board boosted its position in PBF Energy by 9.2% in the fourth quarter. State of Wisconsin Investment Board now owns 70,130 shares of the company’s stock valued at $2,581,000 after buying an additional 5,930 shares in the last quarter. Trexquant Investment LP boosted its position 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 in the last quarter. Finally, Foresters Investment Management Company Inc. purchased a new position in PBF Energy during the fourth quarter valued at $9,313,000.
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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