PBF Energy (NYSE:PBF) Price Target Cut to $54.00 by Analysts at Mizuho

PBF Energy (NYSE:PBF) had its price target reduced by Mizuho from $58.00 to $54.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on PBF. Bank of America upgraded shares of PBF Energy from a neutral rating to a buy rating and lifted their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Piper Sandler lowered their price objective on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a research report on Friday, June 14th. TD Cowen lowered their price objective on shares of PBF Energy from $54.00 to $45.00 and set a hold rating for the company in a research report on Friday, May 3rd. Scotiabank boosted their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the company a sector perform rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a research report on Monday, April 1st. Nine investment 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, the company presently has an average rating of Hold and a consensus target price of $55.82.

PBF Energy Stock Up 2.6 %

NYSE PBF opened at $44.21 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. PBF Energy has a 1-year low of $38.63 and a 1-year high of $62.88. The company has a 50 day moving average of $50.15 and a 200-day moving average of $49.29. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 3.06 and a beta of 1.63.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The company had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.29 billion. On average, equities research analysts expect that PBF Energy will post 6.93 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. PBF Energy’s dividend payout ratio is 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 7,500 shares of PBF Energy stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $45.65 per share, with a total value of $342,375.00. Following the completion of the purchase, the insider now directly owns 14,882,698 shares in the company, valued at approximately $679,395,163.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital purchased 7,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $45.65 per share, for a total transaction of $342,375.00. Following the transaction, the insider now directly owns 14,882,698 shares of the company’s stock, valued at approximately $679,395,163.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,383,900 shares of company stock valued at $61,580,229 over the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in PBF Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after acquiring an additional 69,422 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PBF Energy by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock valued at $324,487,000 after purchasing an additional 120,414 shares during the period. LSV Asset Management raised its holdings in shares of PBF Energy by 20.4% during the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock valued at $56,045,000 after purchasing an additional 216,400 shares during the period. Norges Bank acquired a new position in shares of PBF Energy during the fourth quarter valued at about $54,832,000. Finally, Acadian Asset Management LLC raised its holdings in shares of PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares during the period. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.