PBF Energy Inc. (PBF) Stock Price Down 1.9%
Shares of PBF Energy Inc. (NYSE:PBF) were down 1.9% on Thursday . The company traded as low as $23.27 and last traded at $23.30, with a volume of 843,883 shares. The stock had previously closed at $23.75.
A number of analysts have recently weighed in on PBF shares. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $21.00 in a report on Monday, July 11th. Wells Fargo & Co. reiterated an “outperform” rating on shares of PBF Energy in a report on Monday, July 11th. Goldman Sachs Group Inc. downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $37.00 to $26.00 in a report on Wednesday, June 29th. Wolfe Research downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $30.00 price target on shares of PBF Energy in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. PBF Energy has a consensus rating of “Hold” and an average price target of $33.73.
The firm has a 50 day moving average of $22.60 and a 200 day moving average of $27.81. The firm’s market capitalization is $2.28 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that PBF Energy Inc. will post ($0.42) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be paid a $0.30 dividend. 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 5.14%. The ex-dividend date is Friday, August 5th.
In other news, President Matthew C. Lucey acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased at an average cost of $27.50 per share, for a total transaction of $275,000.00. Following the completion of the transaction, the president now owns 50,000 shares in the company, valued at $1,375,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were 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 disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in PBF Energy stock. Airain ltd acquired a new stake in PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 39,855 shares of the company’s stock, 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.
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