PBF Energy Inc. (NYSE:PBF – Get Free Report) has received an average rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $53.4167.
Several analysts have commented on PBF shares. Morgan Stanley raised their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. TD Cowen raised their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Citigroup lifted their price target on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. The Goldman Sachs Group upped their price target on PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Finally, Evercore initiated coverage on PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price objective for the company.
Check Out Our Latest Report on PBF Energy
PBF Energy Stock Performance
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the business earned ($1.03) EPS. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. As a group, research analysts predict that PBF Energy will post 15.74 EPS for the current year.
PBF Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is 9.73%.
Insider Activity
In related news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew C. Lucey sold 225,473 shares of PBF Energy stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the transaction, the chief executive officer owned 495,771 shares of the company’s stock, valued at $35,655,850.32. The trade was a 31.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,912,674 shares of company stock worth $364,154,134. Insiders own 5.50% of the company’s stock.
Hedge Funds Weigh In On PBF Energy
A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after buying an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock valued at $4,996,000 after buying an additional 12,289 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,354 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in PBF Energy in the 2nd quarter worth approximately $1,143,000. 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.
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