PBF Energy (NYSE:PBF) Price Target Raised to $57.00

PBF Energy (NYSE:PBF) had its target price boosted by Mizuho from $48.00 to $57.00 in a research report released on Tuesday morning, Marketbeat reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research firms also recently issued reports on PBF. Morgan Stanley boosted their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. BMO Capital Markets lifted their target price on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. The Goldman Sachs Group began coverage on shares of PBF Energy in a research report on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price for the company. Finally, Scotiabank upped their price target on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, PBF Energy has a consensus rating of “Reduce” and an average price target of $38.50.

PBF Energy Price Performance

Shares of PBF opened at $60.91 on Tuesday. The firm has a market capitalization of $7.21 billion, a PE ratio of 16.42, a PEG ratio of 0.15 and a beta of 0.11. The company’s 50-day moving average is $44.05 and its 200-day moving average is $40.20. PBF Energy has a fifty-two week low of $21.24 and a fifty-two week high of $61.58. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the previous year, the firm posted ($3.53) EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that PBF Energy will post 9.76 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio is presently 29.65%.

Insider Activity

In related news, insider Control Empresarial De Capital sold 100,000 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $54.52, for a total value of $5,452,000.00. Following the transaction, the insider owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 3,541,570 shares of company stock worth $165,787,386. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of PBF. Goldman Sachs Group Inc. increased its holdings in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after buying an additional 3,550,820 shares during the period. Invesco Ltd. lifted its holdings in shares of PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC lifted its holdings in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares during the period. Norges Bank acquired a new stake in shares of PBF Energy during the 4th quarter worth approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after acquiring an additional 1,159,628 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.