PBF Energy (NYSE:PBF) Price Target Cut to $45.00

PBF Energy (NYSE:PBF) had its price target lowered by TD Cowen from $54.00 to $45.00 in a research note released on Friday, Marketbeat.com reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also commented on PBF. JPMorgan Chase & Co. raised their price target on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a report on Monday, April 1st. Mizuho downgraded shares of PBF Energy from a buy rating to a neutral rating and raised their target price for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Wells Fargo & Company upped their price target on shares of PBF Energy from $65.00 to $71.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Scotiabank raised their price objective on PBF Energy from $39.00 to $56.00 and gave the company a sector perform rating in a research report on Thursday, April 11th. Finally, Citigroup assumed coverage on PBF Energy in a research report on Wednesday, January 24th. They issued a neutral rating for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of Hold and an average price target of $57.91.

PBF Energy Trading Down 0.0 %

PBF stock opened at $51.85 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73. The business has a fifty day simple moving average of $55.14 and a 200-day simple moving average of $48.97. PBF Energy has a 52 week low of $32.24 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.49%. PBF Energy’s revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm posted $4.41 EPS. On average, equities research analysts expect that PBF Energy will post 7.75 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, May 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

Insider Transactions at PBF Energy

In related news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were 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 directly 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 is available at this hyperlink. In related news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at $6,255,829.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total value of $2,234,800.00. Following the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,000 shares of company stock valued at $10,074,600. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise raised its holdings in shares of PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp raised its stake in PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 222 shares during the period. GAMMA Investing LLC raised its stake in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the period. Center For Asset Management LLC lifted its holdings in PBF Energy by 3.9% in the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 228 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 295 shares during the period. 96.29% of the stock is currently owned by 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.