Brokerages Set PBF Energy Inc. (NYSE:PBF) Target Price at $57.55

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $57.55.

PBF has been the topic of several analyst reports. Piper Sandler lifted their target price on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Citigroup initiated coverage on PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Scotiabank boosted their price objective on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Mizuho cut PBF Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd.

Insider Activity

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

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. GAMMA Investing LLC raised its stake in shares of PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the period. Rise Advisors LLC bought a new stake in shares of PBF Energy during the 1st quarter valued at $27,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy during the 4th quarter valued at $29,000. Fifth Third Bancorp raised its stake in shares of PBF Energy by 39.8% during the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of PBF Energy during the 4th quarter valued at $44,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 0.8 %

NYSE PBF opened at $55.91 on Friday. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 3.40 and a beta of 1.73. PBF Energy has a 52 week low of $31.25 and a 52 week high of $62.88. The business has a 50 day moving average price of $53.86 and a 200-day moving average price of $48.37. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.41 EPS. As a group, equities analysts expect that PBF Energy will post 5.88 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. PBF Energy’s dividend payout ratio is presently 6.08%.

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.