PBF Energy (NYSE:PBF) Price Target Raised to $28.00

PBF Energy (NYSE:PBF) had its price objective increased by Scotiabank from $25.00 to $28.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a sector perform rating on the oil and gas company’s stock.

PBF has been the topic of a number of other research reports. Tudor Pickering lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PBF Energy in a research note on Wednesday. Morgan Stanley set a $27.00 price objective on shares of PBF Energy and gave the stock an “underweight” rating in a research note on Friday, October 3rd. UBS Group increased their price objective on shares of PBF Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Bank of America increased their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $26.17.

PBF Energy Trading Down 5.7%

Shares of PBF Energy stock opened at $27.71 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. PBF Energy has a 12-month low of $13.61 and a 12-month high of $34.29. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -3.23 and a beta of 0.85. The firm’s 50 day simple moving average is $27.38 and its two-hundred day simple moving average is $22.83.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the business posted ($0.54) EPS. PBF Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. Analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.0%. PBF Energy’s dividend payout ratio is -12.81%.

Insiders Place Their Bets

In related news, SVP Connor Thomas L. O sold 30,000 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president directly owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the sale, the senior vice president directly owned 173,332 shares in the company, valued at $5,915,821.16. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of hedge funds have recently added to or reduced their stakes in PBF. GAMMA Investing LLC lifted its holdings in PBF Energy by 2,703.0% during the first quarter. GAMMA Investing LLC now owns 22,144 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 21,354 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in PBF Energy by 19.7% during the first quarter. Wedge Capital Management L L P NC now owns 49,550 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 8,144 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in PBF Energy by 61.7% during the first quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 1,320 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in PBF Energy by 3.8% during the first quarter. Yousif Capital Management LLC now owns 42,404 shares of the oil and gas company’s stock valued at $809,000 after purchasing an additional 1,568 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other 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.