PBF Energy (NYSE:PBF - Free Report) had its price objective increased by Scotiabank from $16.00 to $25.00 in a research note published on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the oil and gas company's stock.
PBF has been the topic of a number of other research reports. Morgan Stanley dropped 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 note on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price target on shares of PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. Mizuho lifted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Finally, UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.00.
View Our Latest Report on PBF Energy
PBF Energy Stock Performance
Shares of NYSE PBF traded up $0.80 during midday trading on Friday, reaching $28.70. 4,328,045 shares of the stock were exchanged, compared to its average volume of 2,731,391. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -3.15 and a beta of 0.84. PBF Energy has a twelve month low of $13.62 and a twelve month high of $42.64. The firm has a 50-day simple moving average of $21.55 and a two-hundred day simple moving average of $22.24. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43.
PBF Energy (NYSE:PBF - Get Free Report) last issued 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. The business had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The business's revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.
PBF Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 3.83%. PBF Energy's dividend payout ratio (DPR) is presently -12.09%.
Insider Transactions at PBF Energy
In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On PBF Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. boosted its stake in PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock worth $109,364,000 after purchasing an additional 3,612,447 shares during the last quarter. Norges Bank purchased a new position in shares of PBF Energy during the 4th quarter worth $20,896,000. Nuveen LLC purchased a new position in shares of PBF Energy during the 1st quarter worth $13,600,000. Deutsche Bank AG raised its holdings in shares of PBF Energy by 697.2% during the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock worth $14,976,000 after acquiring an additional 686,103 shares during the period. Finally, Recurrent Investment Advisors LLC raised its holdings in shares of PBF Energy by 154.0% during the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after acquiring an additional 573,161 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.
About PBF Energy
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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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