PBF Energy Inc. (PBF) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of PBF Energy Inc. (NYSE:PBF) from a sell rating to a hold rating in a research note released on Friday morning.
PBF has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of PBF Energy from a sell rating to a hold rating in a research note on Friday, May 5th. Citigroup Inc. lowered their price objective on shares of PBF Energy from $33.50 to $33.00 and set a buy rating on the stock in a research note on Monday, August 7th. Credit Suisse Group lowered shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 price objective on the stock. in a research note on Tuesday, June 20th. Royal Bank Of Canada reiterated a hold rating and set a $22.00 price objective on shares of PBF Energy in a research note on Thursday, June 1st. Finally, Piper Jaffray Companies reiterated a neutral rating on shares of PBF Energy in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.00.
Shares of PBF Energy (NYSE:PBF) traded up 4.69% during midday trading on Friday, hitting $24.79. The stock had a trading volume of 4,302,137 shares. The firm has a 50 day moving average of $22.01 and a 200-day moving average of $21.93. PBF Energy has a one year low of $18.48 and a one year high of $30.98. The company’s market cap is $2.72 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the business earned $0.14 EPS. On average, analysts forecast that PBF Energy will post $0.37 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.20 annualized dividend and a yield of 4.84%. PBF Energy’s dividend payout ratio (DPR) is -363.64%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. Public Employees Retirement System of Ohio raised its position in PBF Energy by 6.8% in the second quarter. Public Employees Retirement System of Ohio now owns 48,678 shares of the oil and gas company’s stock worth $1,084,000 after buying an additional 3,100 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PBF Energy during the second quarter worth approximately $715,000. Nomura Holdings Inc. purchased a new position in PBF Energy during the second quarter worth approximately $227,000. Raymond James Financial Services Advisors Inc. purchased a new position in PBF Energy during the second quarter worth approximately $1,380,000. Finally, The Manufacturers Life Insurance Company raised its position in PBF Energy by 4,637.7% in the second quarter. The Manufacturers Life Insurance Company now owns 161,271 shares of the oil and gas company’s stock worth $3,590,000 after buying an additional 157,867 shares in the last quarter.
PBF Energy Company Profile
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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