PBF Energy Inc. (NYSE:PBF - Get Free Report)'s stock price traded up 8.1% during mid-day trading on Tuesday . The stock traded as high as $30.87 and last traded at $30.71. 1,032,799 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,195,796 shares. The stock had previously closed at $28.41.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Bank of America lifted their target price on PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a report on Wednesday, September 3rd. Morgan Stanley lifted their target price on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler upped their target price on PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of "Reduce" and a consensus target price of $25.42.
Read Our Latest Analysis on PBF Energy
PBF Energy Stock Performance
The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -3.20 and a beta of 0.98. The stock has a fifty day simple moving average of $25.18 and a two-hundred day simple moving average of $21.47. 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) earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the company earned ($0.54) earnings per share. The company's revenue for the quarter was down 14.4% on a year-over-year basis. Analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.
PBF Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, August 14th. 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 PBF. Bank of New York Mellon Corp increased its position in shares of PBF Energy by 14.0% during the first 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 buying an additional 260,464 shares during the period. M&T Bank Corp purchased a new stake in shares of PBF Energy during the first quarter valued at approximately $300,000. Nuveen Asset Management LLC boosted its holdings in PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after purchasing an additional 276,672 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in PBF Energy in the fourth quarter worth approximately $803,000. Finally, Pekin Hardy Strauss Inc. bought a new position in PBF Energy in the first quarter worth approximately $191,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
PBF Energy Company Profile
(
Get Free Report)
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.
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