PBF Energy (NYSE:PBF - Free Report) had its price target decreased by Wells Fargo & Company from $52.00 to $51.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company's stock.
Other analysts also recently issued research reports about the stock. The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $57.00 to $50.00 and set a neutral rating for the company in a report on Monday, July 1st. Mizuho lowered their price target on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Scotiabank reduced their price objective on PBF Energy from $56.00 to $45.00 and set a sector perform rating for the company in a report on Friday, July 12th. Wolfe Research assumed coverage on PBF Energy in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on PBF Energy from $58.00 to $53.00 and set an overweight rating for the company in a research note on Tuesday, July 2nd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $52.30.
Check Out Our Latest Analysis on PBF Energy
PBF Energy Stock Down 2.0 %
PBF stock traded down $0.69 during trading on Tuesday, reaching $33.37. The stock had a trading volume of 2,814,533 shares, compared to its average volume of 2,094,681. PBF Energy has a one year low of $32.17 and a one year high of $62.88. The company's 50 day moving average is $38.88 and its two-hundred day moving average is $47.03. 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 company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 2.30 and a beta of 1.60.
PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The business's revenue was down 4.6% on a year-over-year basis. Equities research analysts forecast that PBF Energy will post 1.61 EPS for the current year.
PBF Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.00%. PBF Energy's payout ratio is 6.92%.
Insider Transactions at PBF Energy
In related news, insider Control Empresarial De Capital purchased 51,000 shares of PBF Energy stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $46.19 per share, for a total transaction of $2,355,690.00. Following the transaction, the insider now directly owns 14,875,198 shares in the company, valued at $687,085,395.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 2,364,100 shares of company stock worth $103,048,517. Company insiders own 5.30% of the company's stock.
Hedge Funds Weigh In On PBF Energy
A number of hedge funds have recently modified their holdings of PBF. GAMMA Investing LLC grew its stake in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of PBF Energy in the 1st quarter worth approximately $27,000. National Bank of Canada FI purchased a new position in shares of PBF Energy during the second quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new stake in PBF Energy in the fourth quarter worth $29,000. Finally, Fifth Third Bancorp boosted 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 valued at $55,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.
PBF Energy Company Profile
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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.
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