PBF Energy (NYSE:PBF) Rating Reiterated by Cowen

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Cowen reaffirmed their market perform rating on shares of PBF Energy (NYSE:PBF) in a report published on Friday, Briefing.com Automated Import reports. The firm currently has a $30.00 price target on the oil and gas company’s stock, down from their previous price target of $33.00.

Several other research firms also recently weighed in on PBF. Bank of America upgraded PBF Energy from an underperform rating to a neutral rating in a research note on Monday, April 29th. Raymond James cut their price target on PBF Energy from $41.00 to $40.00 and set an outperform rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley set a $42.00 price target on PBF Energy and gave the stock a buy rating in a research note on Friday, May 17th. Credit Suisse Group upgraded PBF Energy from a neutral rating to an outperform rating and set a $42.00 price target on the stock in a research note on Wednesday, May 15th. Finally, TheStreet upgraded PBF Energy from a c+ rating to a b rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $44.63.

PBF Energy stock opened at $23.52 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.54. The stock has a market cap of $2.94 billion, a P/E ratio of 7.21, a P/E/G ratio of 3.09 and a beta of 1.62. The stock has a 50 day moving average of $28.12. PBF Energy has a twelve month low of $22.82 and a twelve month high of $53.91.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PBF Energy had a return on equity of 6.37% and a net margin of 0.09%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. Research analysts predict that PBF Energy will post 1.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.20 annualized dividend and a yield of 5.10%. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.

In other PBF Energy news, CEO Thomas J. Nimbley acquired 40,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $23.76 per share, with a total value of $950,400.00. Following the transaction, the chief executive officer now owns 405,990 shares of the company’s stock, valued at approximately $9,646,322.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carso S.A. De C.V. Inversora acquired 1,609,796 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $28.95 per share, for a total transaction of $46,603,594.20. The disclosure for this purchase can be found here. Insiders purchased a total of 2,336,296 shares of company stock worth $64,579,194 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in PBF Energy in the 1st quarter valued at approximately $119,000. First Citizens Bank & Trust Co. lifted its position in PBF Energy by 43.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 15,733 shares of the oil and gas company’s stock valued at $492,000 after acquiring an additional 4,796 shares in the last quarter. Mason Street Advisors LLC lifted its position in PBF Energy by 1.5% in the 1st quarter. Mason Street Advisors LLC now owns 63,731 shares of the oil and gas company’s stock valued at $1,985,000 after acquiring an additional 932 shares in the last quarter. Denali Advisors LLC lifted its position in PBF Energy by 7.2% in the 1st quarter. Denali Advisors LLC now owns 232,800 shares of the oil and gas company’s stock valued at $7,249,000 after acquiring an additional 15,600 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in PBF Energy by 94.7% in the 4th quarter. Deutsche Bank AG now owns 1,101,455 shares of the oil and gas company’s stock valued at $35,981,000 after acquiring an additional 535,725 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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