PBF Energy (NYSE:PBF) PT Lowered to $47.00 at Piper Sandler

PBF Energy (NYSE:PBF) had its target price cut by Piper Sandler from $54.00 to $47.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

PBF has been the topic of a number of other reports. Wells Fargo & Company decreased their price objective on PBF Energy from $67.00 to $66.00 and set an overweight rating on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. lifted their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a report on Monday, April 1st. Mizuho lowered shares of PBF Energy from a buy rating to a neutral rating and increased their target price for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. TD Cowen cut their price objective on PBF Energy from $54.00 to $45.00 and set a hold rating on the stock in a research report on Friday, May 3rd. Finally, Bank of America raised PBF Energy from a neutral rating to a buy rating and upped their price objective for the stock from $52.00 to $74.00 in a research report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $56.18.

PBF Energy Trading Down 2.2 %

PBF Energy stock opened at $43.96 on Friday. The stock has a 50-day moving average price of $51.43 and a 200 day moving average price of $49.39. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 3.04 and a beta of 1.63. PBF Energy has a 52 week low of $38.63 and a 52 week high of $62.88. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. Sell-side analysts anticipate that PBF Energy will post 7.19 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Activity

In related news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the transaction, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital purchased 403,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average price of $44.36 per share, with a total value of $17,894,824.00. Following the completion of the acquisition, the insider now owns 15,286,098 shares of the company’s stock, valued at approximately $678,091,307.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 745,900 shares of company stock worth $33,443,529. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of PBF Energy during the 1st quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in shares of PBF Energy during the 4th quarter valued at about $29,000. Fortitude Family Office LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at approximately $44,000. Finally, Fifth Third Bancorp increased its holdings in PBF Energy by 30.4% in the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after buying an additional 222 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

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.