Mizuho Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price objective increased by Mizuho from $38.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

PBF has been the subject of several other reports. The Goldman Sachs Group boosted their price objective on PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Monday, December 8th. Finally, Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and a consensus target price of $31.69.

PBF Energy Trading Up 2.1%

NYSE PBF opened at $44.51 on Tuesday. PBF Energy has a 12 month low of $13.61 and a 12 month high of $47.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -30.28, a price-to-earnings-growth ratio of 4.64 and a beta of 0.41. The company’s fifty day moving average price is $35.50 and its two-hundred day moving average price is $32.76.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.64. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.82) EPS. As a group, research analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a $0.275 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 2.5%. PBF Energy’s payout ratio is -74.83%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 903,100 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.62, for a total transaction of $38,490,122.00. Following the completion of the sale, the insider directly owned 26,469,098 shares of the company’s stock, valued at $1,128,112,956.76. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 5,717,979 shares of company stock valued at $222,327,012. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of PBF Energy in the third quarter valued at approximately $10,207,000. First Eagle Investment Management LLC boosted its holdings in shares of PBF Energy by 7.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after buying an additional 40,129 shares during the period. Nomura Holdings Inc. bought a new stake in shares of PBF Energy during the 2nd quarter worth $5,843,000. Allianz Asset Management GmbH grew its stake in PBF Energy by 1,232.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock valued at $8,058,000 after buying an additional 247,039 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in PBF Energy by 264.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 70,312 shares during 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.