PBF Energy (NYSE:PBF) PT Raised to $56.00

PBF Energy (NYSE:PBF) had its target price upped by Scotiabank from $39.00 to $56.00 in a research report report published on Thursday, Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their target price on PBF Energy from $50.00 to $61.00 and gave the company a neutral rating in a report on Friday, April 5th. Wells Fargo & Company boosted their target price on PBF Energy from $65.00 to $71.00 and gave the company an overweight rating in a report on Thursday. Citigroup began coverage on PBF Energy in a report on Wednesday, January 24th. They issued a neutral rating on the stock. TD Cowen boosted their target price on PBF Energy from $35.00 to $41.00 and gave the company a market perform rating in a report on Friday, February 16th. Finally, Mizuho lowered PBF Energy from a buy rating to a neutral rating and upped their price objective for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $57.55.

PBF Energy Price Performance

Shares of NYSE PBF opened at $59.72 on Thursday. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. PBF Energy has a twelve month low of $31.25 and a twelve month high of $62.88. The stock has a 50 day moving average of $53.35 and a two-hundred day moving average of $48.17. The stock has a market cap of $7.14 billion, a P/E ratio of 3.63 and a beta of 1.73.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same quarter in the prior year, the firm posted $4.41 EPS. PBF Energy’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts forecast that PBF Energy will post 6.1 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is 6.08%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital acquired 12,200 shares of PBF Energy stock in a transaction dated Wednesday, January 24th. The stock was bought at an average price of $43.86 per share, for a total transaction of $535,092.00. Following the completion of the transaction, the insider now directly owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 180,000 shares of company stock valued at $10,074,600. Insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in PBF Energy by 12.2% during the first quarter. JPMorgan Chase & Co. now owns 396,209 shares of the oil and gas company’s stock worth $9,656,000 after buying an additional 43,143 shares during the period. Raymond James & Associates purchased a new position in PBF Energy during the first quarter worth about $224,000. MetLife Investment Management LLC lifted its position in PBF Energy by 56.1% during the first quarter. MetLife Investment Management LLC now owns 51,879 shares of the oil and gas company’s stock worth $1,264,000 after buying an additional 18,652 shares during the period. Panagora Asset Management Inc. purchased a new position in PBF Energy during the first quarter worth about $578,000. Finally, Rhumbline Advisers increased its stake in PBF Energy by 0.3% during the first quarter. Rhumbline Advisers now owns 308,096 shares of the oil and gas company’s stock worth $7,508,000 after acquiring an additional 784 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.