PBF Energy Inc. (NYSE:PBF – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $83.36 and last traded at $80.68, with a volume of 235876 shares trading hands. The stock had previously closed at $82.34.
Wall Street Analysts Forecast Growth
PBF has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Morgan Stanley boosted their price objective on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, September 14th. Mizuho upped their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, UBS Group raised their target price on shares of PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.55.
Read Our Latest Stock Analysis on PBF Energy
PBF Energy Stock Down 5.0%
PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s revenue was up 56.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.03) earnings per share. On average, research analysts anticipate that PBF Energy Inc. will post 22.61 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.2750 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.4%. PBF Energy’s payout ratio is currently 9.73%.
Insider Buying and Selling at PBF Energy
In other news, Director Thomas J. Nimbley sold 116,008 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the sale, the director owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Trecia M. Canty sold 75,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $74.10, for a total value of $5,557,500.00. Following the sale, the senior vice president owned 191,779 shares of the company’s stock, valued at $14,210,823.90. This represents a 28.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,926,374 shares of company stock valued at $335,005,837. Company insiders own 5.50% of the company’s stock.
Institutional Trading of PBF Energy
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its holdings in shares of PBF Energy by 128.0% in the second quarter. Sequoia Financial Advisors LLC now owns 10,631 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 5,969 shares during the last quarter. Engineers Gate Manager LP raised its holdings in PBF Energy by 90.4% during the 2nd quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock valued at $2,887,000 after buying an additional 30,117 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in PBF Energy by 76.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 8,632 shares of the oil and gas company’s stock valued at $393,000 after buying an additional 3,728 shares during the period. IFP Advisors Inc boosted its position in PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 591 shares during the period. Finally, Allworth Financial LP grew its holdings in PBF Energy by 166.2% in the 2nd quarter. Allworth Financial LP now owns 6,888 shares of the oil and gas company’s stock worth $314,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.
PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.
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