Cowen and Company Reaffirms “Buy” Rating for PBF Energy Inc. (PBF)
PBF has been the topic of a number of other reports. Zacks Investment Research cut shares of PBF Energy from a hold rating to a sell rating in a report on Wednesday, July 12th. BidaskClub cut shares of PBF Energy from a hold rating to a sell rating in a report on Thursday, July 27th. Credit Suisse Group cut shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 target price on the stock. in a report on Tuesday, June 20th. Citigroup Inc. cut their target price on shares of PBF Energy from $33.50 to $33.00 and set a buy rating on the stock in a report on Monday, August 7th. Finally, US Capital Advisors reaffirmed a hold rating on shares of PBF Energy in a report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $24.00.
PBF Energy (PBF) opened at 20.36 on Thursday. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The stock’s market capitalization is $2.23 billion. The company’s 50 day moving average is $22.07 and its 200-day moving average is $22.05.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business posted $0.14 EPS. Analysts forecast that PBF Energy will post $0.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 5.89%. PBF Energy’s payout ratio is currently -363.64%.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the transaction, the chief executive officer now owns 290,000 shares of the company’s stock, valued at $5,710,100. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Connor Thomas L. O bought 10,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were bought at an average price of $20.17 per share, for a total transaction of $201,700.00. Following the completion of the transaction, the insider now directly owns 105,135 shares in the company, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. UBS Group AG raised its stake in PBF Energy by 4.6% in the first quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock valued at $1,877,000 after buying an additional 3,706 shares in the last quarter. Sanders Morris Harris Inc. acquired a new stake in PBF Energy during the first quarter valued at approximately $2,001,000. Nomura Asset Management Co. Ltd. raised its stake in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in PBF Energy during the first quarter valued at approximately $113,000. Finally, Point72 Asset Management L.P. acquired a new stake in PBF Energy during the first quarter valued at approximately $19,439,000.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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