PBF Energy's (PBF) Sector Perform Rating Reiterated at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of PBF Energy (NYSE:PBF - Free Report) in a report issued on Friday, Marketbeat Ratings reports. They currently have a $25.00 target price on the oil and gas company's stock, up from their prior target price of $16.00.

Several other research analysts have also recently weighed in on PBF. Piper Sandler lowered their target price on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Mizuho upped their target price on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Wells Fargo & Company raised their target price on PBF Energy from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley lowered their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, PBF Energy has an average rating of "Hold" and a consensus price target of $24.00.

PBF Energy Price Performance

PBF stock traded down $1.63 during midday trading on Friday, reaching $27.02. The stock had a trading volume of 2,643,904 shares, compared to its average volume of 2,735,839. PBF Energy has a 52-week low of $13.62 and a 52-week high of $42.64. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The company's fifty day simple moving average is $21.55 and its 200 day simple moving average is $22.19. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -2.97 and a beta of 0.84.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company's revenue for the quarter was down 18.3% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. PBF Energy's payout ratio is currently -12.09%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in PBF Energy by 5.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company's stock worth $8,929,000 after purchasing an additional 17,400 shares in the last quarter. Norges Bank purchased a new stake in shares of PBF Energy in the 4th quarter valued at $20,896,000. Heartland Advisors Inc. acquired a new position in PBF Energy during the 4th quarter worth about $1,420,000. Nuveen Asset Management LLC boosted its holdings in 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. Finally, Raymond James Financial Inc. acquired a new position in PBF Energy in the 4th quarter valued at about $1,654,000. 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.