UBS Group Lowers PBF Energy (NYSE:PBF) Price Target to $44.00

PBF Energy (NYSE:PBF) had its target price trimmed by UBS Group from $57.00 to $44.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on PBF. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $67.00 to $66.00 and set an overweight rating for the company in a report on Thursday, June 6th. TD Cowen reduced their target price on shares of PBF Energy from $54.00 to $45.00 and set a hold rating for the company in a report on Friday, May 3rd. Piper Sandler reduced their target price on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a report on Friday, June 14th. Mizuho reduced their target price on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating for the company in a report on Thursday, June 20th. Finally, The Goldman Sachs Group reduced their target price on shares of PBF Energy from $57.00 to $50.00 and set a neutral rating for the company in a report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $53.80.

PBF Energy Trading Down 2.7 %

PBF Energy stock opened at $36.39 on Tuesday. The firm has a 50 day simple moving average of $41.76 and a 200-day simple moving average of $48.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The stock has a market capitalization of $4.31 billion, a PE ratio of 2.52 and a beta of 1.60. PBF Energy has a 12-month low of $33.80 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. As a group, equities research analysts expect that PBF Energy will post 1.64 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 200,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the transaction, the insider now owns 14,824,198 shares in the company, valued at $672,573,863.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders bought 2,448,100 shares of company stock worth $106,825,157. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares in the last quarter. Rise Advisors LLC purchased a new stake in PBF Energy in the 1st quarter worth approximately $27,000. National Bank of Canada FI purchased a new stake in PBF Energy in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new stake in PBF Energy in the 4th quarter worth approximately $29,000. Finally, Fifth Third Bancorp lifted its position in PBF Energy by 30.4% in the 1st quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.