PBF Energy (NYSE:PBF) PT Raised to $61.00

PBF Energy (NYSE:PBF - Free Report) had its price objective boosted by Piper Sandler from $50.00 to $61.00 in a research note released on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas company's stock.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company increased their price objective on PBF Energy from $64.00 to $65.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. StockNews.com downgraded PBF Energy from a buy rating to a hold rating in a research note on Monday, December 18th. TD Cowen increased their price objective on PBF Energy from $35.00 to $41.00 and gave the stock a market perform rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an overweight rating in a research note on Monday. Finally, Citigroup assumed coverage on PBF Energy in a research note on Wednesday, January 24th. They issued a neutral rating for the company. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of Hold and an average price target of $57.10.

PBF Energy Trading Up 1.8 %

Shares of NYSE:PBF traded up $1.09 during midday trading on Friday, reaching $62.05. The company had a trading volume of 1,232,265 shares, compared to its average volume of 2,329,947. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. PBF Energy has a 1-year low of $31.25 and a 1-year high of $62.88. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 3.77 and a beta of 1.73. The company has a fifty day simple moving average of $52.12 and a two-hundred day simple moving average of $47.98.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). The business had revenue of $9.14 billion during the quarter, compared to analysts' expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The firm's revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.41 earnings per share. Research analysts predict that PBF Energy will post 6.13 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, February 28th. PBF Energy's dividend payout ratio is 6.08%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 770,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were acquired at an average price of $42.95 per share, with a total value of $33,071,500.00. Following the acquisition, the insider now owns 13,832,998 shares in the company, valued at approximately $594,127,264.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares of the company's stock, valued at approximately $6,255,829.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital bought 770,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was acquired at an average cost of $42.95 per share, for a total transaction of $33,071,500.00. Following the acquisition, the insider now directly owns 13,832,998 shares in the company, valued at $594,127,264.10. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 1,268,200 shares of company stock valued at $54,251,872 and have sold 180,000 shares valued at $10,074,600. 5.30% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in PBF Energy by 2.4% in the 1st quarter. BlackRock Inc. now owns 13,857,287 shares of the oil and gas company's stock valued at $600,852,000 after buying an additional 321,654 shares during the last quarter. Vanguard Group Inc. grew its holdings in PBF Energy by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 13,175,781 shares of the oil and gas company's stock valued at $463,260,000 after buying an additional 716,698 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in PBF Energy in the 4th quarter valued at approximately $412,454,000. Dimensional Fund Advisors LP grew its holdings in PBF Energy by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company's stock valued at $324,487,000 after buying an additional 120,414 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in PBF Energy by 12.1% in the 4th quarter. Millennium Management LLC now owns 2,626,237 shares of the oil and gas company's stock valued at $107,098,000 after buying an additional 283,113 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Company Profile

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.