PBF Energy (NYSE:PBF) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PBF Energy (NYSE:PBF - Free Report) had its target price increased by Wells Fargo & Company from $21.00 to $24.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the oil and gas company's stock.

PBF has been the topic of a number of other reports. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. The Goldman Sachs Group decreased their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Mizuho lifted their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Morgan Stanley lowered their price target on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler lowered their price target on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.00.

PBF Energy Stock Performance

PBF Energy stock traded down $0.02 during mid-day trading on Tuesday, hitting $24.96. 557,224 shares of the company's stock traded hands, compared to its average volume of 2,728,579. The firm has a 50 day moving average price of $22.02 and a 200 day moving average price of $22.25. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.89 billion, a PE ratio of -2.75 and a beta of 0.84. PBF Energy has a one year low of $13.62 and a one year high of $42.64.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company's quarterly revenue was down 18.3% compared to the same quarter last year. On average, equities analysts forecast that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.41%. PBF Energy's dividend payout ratio is presently -12.09%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the transaction, the insider owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Signaturefd LLC raised its holdings in PBF Energy by 8.1% in the 2nd quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company's stock valued at $192,000 after acquiring an additional 664 shares in the last quarter. Bfsg LLC raised its holdings in PBF Energy by 17.6% in the 2nd quarter. Bfsg LLC now owns 9,715 shares of the oil and gas company's stock valued at $211,000 after acquiring an additional 1,451 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in PBF Energy in the 2nd quarter valued at approximately $428,000. GAMMA Investing LLC raised its holdings in PBF Energy by 289.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,516 shares of the oil and gas company's stock valued at $98,000 after acquiring an additional 3,356 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in PBF Energy by 25.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company's stock valued at $57,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

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.