Analysts Set PBF Energy Inc. (NYSE:PBF) Target Price at $53.80

Shares of PBF Energy Inc. (NYSE:PBF) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.80.

A number of brokerages recently commented on PBF. Wolfe Research began coverage on PBF Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. UBS Group reduced their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Scotiabank lowered their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 200,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the completion of the acquisition, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 2,448,100 shares of company stock worth $106,825,157. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake 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 purchasing an additional 224 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of PBF Energy in the second quarter worth $26,000. Rise Advisors LLC bought a new stake in PBF Energy during the first quarter valued at $27,000. Creekmur Asset Management LLC purchased a new position in PBF Energy during the fourth quarter worth about $29,000. Finally, CWM LLC increased its stake in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

PBF opened at $34.07 on Friday. PBF Energy has a 1 year low of $33.41 and a 1 year high of $62.88. 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 company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60. The firm’s fifty day moving average price is $40.75 and its two-hundred day moving average price is $48.20.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts anticipate that PBF Energy will post 1.63 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

About PBF Energy

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.