Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $54.30

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average recommendation of “Hold” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $54.30.

Several equities research analysts have recently weighed in on the company. Scotiabank reduced their price target on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. reduced their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Mizuho reduced their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Wells Fargo & Company reduced their price target on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Finally, Piper Sandler reduced their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, June 14th.

PBF Energy Price Performance

NYSE:PBF opened at $40.46 on Monday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60. PBF Energy has a 1 year low of $37.62 and a 1 year high of $62.88. The business has a 50 day simple moving average of $44.17 and a 200-day simple moving average of $49.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The firm had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.29 billion. Equities analysts forecast that PBF Energy will post 3.19 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.47%. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 84,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average cost of $44.96 per share, for a total transaction of $3,776,640.00. Following the acquisition, the insider now owns 14,429,198 shares of the company’s stock, valued at approximately $648,736,742.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have purchased 2,091,100 shares of company stock worth $93,004,617. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in PBF Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after buying an additional 69,422 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 valued at $324,487,000 after purchasing an additional 120,414 shares during the last quarter. LSV Asset Management grew its stake in PBF Energy by 20.4% during the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock valued at $56,045,000 after purchasing an additional 216,400 shares during the last quarter. Norges Bank purchased a new stake in PBF Energy during the 4th quarter valued at about $54,832,000. Finally, Acadian Asset Management LLC grew its stake in PBF Energy by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.