PBF Energy (NYSE:PBF) Given New $56.00 Price Target at Scotiabank

PBF Energy (NYSE:PBF - Free Report) had its target price increased by Scotiabank from $39.00 to $56.00 in a report published on Thursday morning, Benzinga reports. They currently have a sector perform rating on the oil and gas company's stock.

PBF has been the subject of several other research reports. Mizuho downgraded shares of PBF Energy from a buy rating to a neutral rating and lifted their target price for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a report on Monday, April 1st. Wells Fargo & Company boosted their price objective on shares of PBF Energy from $65.00 to $71.00 and gave the company an overweight rating in a report on Thursday. StockNews.com downgraded shares of PBF Energy from a buy rating to a hold rating in a report on Monday, December 18th. Finally, Piper Sandler boosted their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the company a neutral rating in a report on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $57.55.

PBF Energy Stock Performance

Shares of PBF traded up $0.99 during midday trading on Thursday, reaching $60.06. The stock had a trading volume of 1,141,731 shares, compared to its average volume of 2,276,186. The firm has a 50 day simple moving average of $52.94 and a 200-day simple moving average of $48.13. PBF Energy has a one year low of $31.25 and a one year high of $62.88. The firm has a market cap of $7.18 billion, a PE ratio of 3.63 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business's quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.41 EPS. As a group, sell-side analysts anticipate that PBF Energy will post 6.35 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy's dividend payout ratio (DPR) is currently 6.08%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 486,000 shares of PBF Energy stock in a transaction dated Friday, January 12th. The shares were bought at an average cost of $42.48 per share, with a total value of $20,645,280.00. Following the purchase, the insider now owns 13,062,998 shares in the company, valued at approximately $554,916,155.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Control Empresarial De Capital bought 486,000 shares of the business's stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average cost of $42.48 per share, with a total value of $20,645,280.00. Following the completion of the purchase, the insider now directly owns 13,062,998 shares in the company, valued at $554,916,155.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,268,200 shares of company stock worth $54,251,872 and sold 180,000 shares worth $10,074,600. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise lifted its stake in shares of PBF Energy by 10.4% in the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company's stock valued at $105,000 after buying an additional 172 shares in the last quarter. US Asset Management LLC purchased a new stake in shares of PBF Energy in the first quarter valued at about $235,000. Rise Advisors LLC purchased a new stake in shares of PBF Energy in the first quarter valued at about $27,000. GAMMA Investing LLC raised its holdings in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of PBF Energy in the fourth quarter valued at about $497,000. 96.29% of the stock is 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.