Analysts Set PBF Energy Inc. (PBF) Price Target at $24.56
PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.56.
A number of equities research analysts have weighed in on PBF shares. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Scotiabank set a $24.00 price target on PBF Energy and gave the company a “buy” rating in a research note on Saturday, May 6th. US Capital Advisors reiterated a “hold” rating on shares of PBF Energy in a research note on Monday, May 22nd. Piper Jaffray Companies reiterated a “neutral” rating on shares of PBF Energy in a research note on Thursday, May 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of PBF Energy in a research note on Thursday, June 1st.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average cost of $19.69 per share, with a total value of $984,500.00. Following the transaction, the chief executive officer now directly owns 290,000 shares in the company, valued at $5,710,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.55% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of 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. bought a new position in shares of PBF Energy during the first quarter valued at about $113,000. Creative Planning raised its position in shares of PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares in the last quarter. Flinton Capital Management LLC bought a new position in shares of PBF Energy during the second quarter valued at about $119,000. Finally, Huntington National Bank bought a new position in shares of PBF Energy during the second quarter valued at about $126,000.
PBF Energy (PBF) traded up 3.30% during midday trading on Tuesday, hitting $20.97. The company had a trading volume of 3,995,193 shares. The company’s 50 day moving average is $21.81 and its 200-day moving average is $21.95. PBF Energy has a one year low of $18.48 and a one year high of $30.98. The company’s market cap is $2.30 billion.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same period in the prior year, the business posted $0.14 EPS. On average, equities analysts predict that PBF Energy will post $0.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.72%. The ex-dividend date is Friday, August 11th. PBF Energy’s dividend payout ratio is currently -363.64%.
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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