PBF Energy Inc. (NYSE:PBF - Get Free Report)'s stock price shot up 8.9% during mid-day trading on Thursday . The company traded as high as $28.03 and last traded at $28.10. 1,882,206 shares were traded during mid-day trading, a decline of 39% from the average session volume of 3,096,437 shares. The stock had previously closed at $25.81.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PBF. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Mizuho upped their price objective 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. Morgan Stanley dropped their target price on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Piper Sandler dropped their target price on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank increased their target price on shares of PBF Energy from $16.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, PBF Energy presently has an average rating of "Hold" and an average price target of $24.00.
Check Out Our Latest Report on PBF
PBF Energy Stock Performance
The company has a market capitalization of $3.32 billion, a PE ratio of -3.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. The company has a 50 day moving average price of $21.55 and a 200 day moving average price of $22.21.
PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The business's revenue was down 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.
PBF Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) is currently -12.09%.
Insider Activity at PBF Energy
In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.30% of the company's stock.
Hedge Funds Weigh In On PBF Energy
Several large investors have recently added to or reduced their stakes in PBF. Charles Schwab Investment Management Inc. lifted its stake in PBF Energy by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock worth $39,634,000 after purchasing an additional 78,045 shares during the last quarter. Proficio Capital Partners LLC bought a new position in PBF Energy during the fourth quarter worth $299,000. Raymond James Financial Inc. bought a new position in PBF Energy during the fourth quarter worth $1,654,000. HighTower Advisors LLC lifted its stake in PBF Energy by 54.2% during the fourth quarter. HighTower Advisors LLC now owns 22,267 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 7,825 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.
About PBF Energy
(
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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