Mizuho Raises PBF Energy (NYSE:PBF) Price Target to $26.00

Key Points

• Mizuho has raised its price target for PBF Energy from $23.00 to $26.00, indicating a potential downside of 6.73% from the current stock price, while maintaining an "underperform" rating.
• Several analysts have recently increased their price targets for PBF, with Citigroup setting the highest at $29.00, though the overall consensus remains "Reduce" with a target price of $25.54.
• PBF Energy's stock traded at $27.88 recently, with a market cap of $3.23 billion and a negative earnings per share of ($1.03) for the last quarter, despite beating consensus estimates.

PBF Energy (NYSE:PBF - Free Report) had its price objective hoisted by Mizuho from $23.00 to $26.00 in a report issued on Monday,Benzinga reports. They currently have an underperform rating on the oil and gas company's stock.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Citigroup increased their target price on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Scotiabank reissued a "sector perform" rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Bank of America increased their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. Finally, Piper Sandler raised their price objective on PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $25.54.

PBF Energy Stock Down 1.8%

Shares of NYSE PBF traded down $0.54 during trading hours on Monday, hitting $30.12. The stock had a trading volume of 7,985,630 shares, compared to its average volume of 3,266,004. The company has a market capitalization of $3.48 billion, a P/E ratio of -3.51 and a beta of 0.98. The firm's 50-day moving average price is $25.50 and its two-hundred day moving average price is $21.72. PBF Energy has a 52 week low of $13.61 and a 52 week high of $34.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.54) earnings per share. Analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 3.7%. PBF Energy's payout ratio is -12.81%.

Institutional Trading of PBF Energy

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after purchasing an additional 260,464 shares during the period. M&T Bank Corp bought a new stake in shares of PBF Energy during the 1st quarter valued at $300,000. Nuveen Asset Management LLC lifted its position in shares of PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of PBF Energy during the 4th quarter valued at $803,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in PBF Energy during the first quarter worth about $191,000. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.