TD Cowen Cuts PBF Energy (NYSE:PBF) Price Target to $45.00

PBF Energy (NYSE:PBF) had its target price trimmed by TD Cowen from $54.00 to $45.00 in a research note released on Friday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. Scotiabank raised their price target on shares of PBF Energy from $39.00 to $56.00 and gave the company a sector perform rating in a report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on PBF Energy from $54.00 to $59.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Citigroup started coverage on PBF Energy in a report on Wednesday, January 24th. They issued a neutral rating for the company. Bank of America upgraded PBF Energy from a neutral rating to a buy rating and lifted their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Finally, Wells Fargo & Company increased their target price on PBF Energy from $65.00 to $71.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $57.91.

PBF Energy Stock Down 0.0 %

Shares of PBF traded down $0.01 during midday trading on Friday, reaching $51.85. 1,874,284 shares of the company were exchanged, compared to its average volume of 2,137,208. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. PBF Energy has a 1-year low of $32.24 and a 1-year high of $62.88. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73. The stock has a 50-day moving average price of $55.07 and a 200-day moving average price of $48.95.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a return on equity of 18.49% and a net margin of 4.95%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. During the same period last year, the firm posted $4.41 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis. Research analysts expect that PBF Energy will post 7.75 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, May 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insiders Place Their Bets

In other news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at $8,829,813.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at $8,829,813.66. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock valued at $10,074,600 over the last quarter. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. Norges Bank bought a new stake in PBF Energy during the 4th quarter valued at $54,832,000. Acadian Asset Management LLC lifted its holdings in PBF Energy by 1,112.3% in the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock worth $51,718,000 after purchasing an additional 886,617 shares during the period. Assetmark Inc. grew its position in PBF Energy by 84.5% in the 3rd quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company’s stock valued at $75,491,000 after buying an additional 645,976 shares in the last quarter. LSV Asset Management grew its position in PBF Energy by 89.4% in the 3rd quarter. LSV Asset Management now owns 1,058,504 shares of the oil and gas company’s stock valued at $56,662,000 after buying an additional 499,505 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in PBF Energy by 527.4% during the 3rd quarter. Victory Capital Management Inc. now owns 526,671 shares of the oil and gas company’s stock valued at $28,193,000 after buying an additional 442,730 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.