PBF Energy (NYSE:PBF) Price Target Cut to $53.00 by Analysts at JPMorgan Chase & Co.

PBF Energy (NYSE:PBF) had its target price decreased by JPMorgan Chase & Co. from $58.00 to $53.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the company. TD Cowen decreased their target price on PBF Energy from $54.00 to $45.00 and set a hold rating on the stock in a report on Friday, May 3rd. Bank of America raised PBF Energy from a neutral rating to a buy rating and raised their price target for the company from $52.00 to $74.00 in a report on Friday, March 15th. Scotiabank raised their price target on PBF Energy from $39.00 to $56.00 and gave the company a sector perform rating in a report on Thursday, April 11th. Piper Sandler decreased their price target on PBF Energy from $54.00 to $47.00 and set a neutral rating on the stock in a report on Friday, June 14th. Finally, Mizuho reduced their target price on PBF Energy from $58.00 to $54.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $54.91.

PBF Energy Stock Performance

PBF stock opened at $46.26 on Tuesday. The company has a market cap of $5.48 billion, a P/E ratio of 3.20 and a beta of 1.60. PBF Energy has a 1 year low of $39.18 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The stock’s fifty day moving average price is $48.22 and its 200-day moving average price is $49.59.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The company had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.29 billion. On average, equities analysts forecast that PBF Energy will post 5.26 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 2.16%. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 140,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $45.73 per share, for a total transaction of $6,402,200.00. Following the completion of the transaction, the insider now directly owns 17,772,598 shares of the company’s stock, valued at $812,740,906.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 2,091,100 shares of company stock worth $93,004,617. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in PBF Energy by 152.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,252 shares in the last quarter. Boston Partners acquired a new position in shares of PBF Energy during the first quarter worth $1,393,000. Invst LLC acquired a new position in shares of PBF Energy during the first quarter worth $913,000. EMC Capital Management acquired a new position in shares of PBF Energy during the first quarter worth $652,000. Finally, Comerica Bank increased its position in shares of PBF Energy by 13.9% during the first quarter. Comerica Bank now owns 50,951 shares of the oil and gas company’s stock worth $2,933,000 after purchasing an additional 6,219 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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.