PBF Energy Inc. (NYSE:PBF) Receives $55.82 Consensus Target Price from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $55.45.

A number of equities analysts have commented on the company. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Mizuho dropped their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. TD Cowen cut their price objective on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Wells Fargo & Company decreased their target price on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 38,000 shares of PBF Energy stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $43.65 per share, for a total transaction of $1,658,700.00. Following the completion of the acquisition, the insider now owns 16,042,098 shares in the company, valued at approximately $700,237,577.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 2,091,100 shares of company stock valued at $93,004,617 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently modified their holdings of PBF. EverSource Wealth Advisors LLC increased its holdings in PBF Energy by 152.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,252 shares during the period. Boston Partners bought a new stake in shares of PBF Energy in the 1st quarter valued at about $1,393,000. Invst LLC acquired a new stake in shares of PBF Energy in the first quarter valued at about $913,000. EMC Capital Management bought a new position in shares of PBF Energy during the first quarter worth about $652,000. Finally, Comerica Bank lifted its stake in shares of PBF Energy by 13.9% in the first quarter. Comerica Bank now owns 50,951 shares of the oil and gas company’s stock worth $2,933,000 after acquiring an additional 6,219 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Up 1.0 %

Shares of PBF Energy stock opened at $46.50 on Thursday. PBF Energy has a 52-week low of $39.18 and a 52-week high of $62.88. The stock has a market cap of $5.51 billion, a PE ratio of 3.22 and a beta of 1.60. The firm has a 50-day moving average of $48.65 and a 200-day moving average of $49.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. As a group, sell-side analysts forecast that PBF Energy will post 5.26 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s dividend payout ratio (DPR) is 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.