Brokerages Set PBF Energy Inc. (NYSE:PBF) PT at $52.30

PBF Energy Inc. (NYSE:PBF) has been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $52.30.

A number of research firms recently commented on PBF. UBS Group decreased their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Mizuho decreased their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wolfe Research assumed coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler decreased their target price on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 805,300 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of $32.62 per share, for a total transaction of $26,268,886.00. Following the completion of the purchase, the insider now directly owns 20,634,898 shares in the company, valued at approximately $673,110,372.76. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired a total of 2,417,500 shares of company stock worth $90,094,314 in the last ninety days. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently made changes to their positions in PBF. Vanguard Group Inc. lifted its stake in PBF Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after acquiring an additional 69,422 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PBF Energy by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after purchasing an additional 120,414 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management increased its holdings in PBF Energy by 2.7% in the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock valued at $59,409,000 after buying an additional 34,470 shares during the last quarter. Finally, Norges Bank purchased a new position in PBF Energy in the fourth quarter valued at $54,832,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Up 1.1 %

NYSE PBF opened at $31.50 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. PBF Energy has a 52 week low of $30.61 and a 52 week high of $62.88. The business’s fifty day simple moving average is $36.73 and its 200-day simple moving average is $46.20. The firm has a market cap of $3.73 billion, a PE ratio of 2.18 and a beta of 1.56.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period last year, the firm earned $2.29 earnings per share. PBF Energy’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities analysts anticipate that PBF Energy will post 1.61 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

About PBF Energy

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.