PBF Energy (NYSE:PBF) Given New $31.00 Price Target at Scotiabank

PBF Energy (NYSE:PBF) had its price objective trimmed by Scotiabank from $45.00 to $31.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company cut their target price on PBF Energy from $51.00 to $39.00 and set an overweight rating on the stock in a research report on Wednesday. BMO Capital Markets lowered PBF Energy from an outperform rating to a market perform rating and cut their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Mizuho cut their target price on PBF Energy from $42.00 to $36.00 and set a neutral rating on the stock in a research report on Wednesday. Tudor Pickering raised PBF Energy to a strong sell rating in a research report on Monday, September 9th. Finally, The Goldman Sachs Group cut their target price on PBF Energy from $45.00 to $39.00 and set a neutral rating on the stock in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $40.55.

PBF Energy Stock Performance

PBF traded up $0.12 on Thursday, hitting $33.32. 147,512 shares of the company traded hands, compared to its average volume of 2,137,703. The company has a 50 day moving average of $33.68 and a 200-day moving average of $43.58. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.90 billion, a PE ratio of 5.52 and a beta of 1.55. PBF Energy has a 12-month low of $30.17 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last announced 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 net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the company posted $2.29 EPS. PBF Energy’s quarterly revenue was down 4.6% compared to the same quarter last year. Sell-side analysts anticipate that PBF Energy will post -0.05 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. PBF Energy’s dividend payout ratio (DPR) is 16.64%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $1,696,750.00. Following the completion of the purchase, the insider now owns 23,462,398 shares of the company’s stock, valued at approximately $723,814,978.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 2,952,300 shares of company stock worth $97,300,026. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PBF Energy by 94.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 313,091 shares of the oil and gas company’s stock valued at $14,408,000 after acquiring an additional 152,091 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in PBF Energy in the second quarter valued at approximately $275,000. Sanctuary Advisors LLC acquired a new position in shares of PBF Energy during the second quarter worth approximately $1,176,000. Invst LLC boosted its position in shares of PBF Energy by 6.2% during the second quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock worth $770,000 after buying an additional 965 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of PBF Energy by 11.9% during the second quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock worth $623,000 after buying an additional 1,436 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.