Analysts’ Recent Ratings Updates for PBF Energy (PBF)

A number of research firms have changed their ratings and price targets for PBF Energy (NYSE: PBF):

• 10/9/2024 – PBF Energy had its price target lowered by analysts at Wells Fargo & Company from $51.00 to $39.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – PBF Energy had its price target lowered by analysts at Mizuho from $42.00 to $36.00. They now have a “neutral” rating on the stock.
• 10/4/2024 – PBF Energy had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $45.00 to $39.00. They now have a “neutral” rating on the stock.
• 10/4/2024 – PBF Energy was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $35.00 price target on the stock, down previously from $42.00.
• 10/2/2024 – PBF Energy was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $40.00 price target on the stock, down previously from $53.00.
• 9/20/2024 – PBF Energy was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $25.00 price target on the stock, down previously from $47.00.
• 9/16/2024 – PBF Energy had its price target lowered by analysts at Mizuho from $48.00 to $42.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – PBF Energy had its price target lowered by analysts at Morgan Stanley from $48.00 to $38.00. They now have an “equal weight” rating on the stock.
• 9/9/2024 – PBF Energy was upgraded by analysts at Tudor Pickering to a “strong sell” rating.
• 9/9/2024 – PBF Energy was downgraded by analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating.
• 9/3/2024 – PBF Energy had its price target lowered by analysts at Wells Fargo & Company from $52.00 to $51.00. They now have an “overweight” rating on the stock.
• 8/13/2024 – PBF Energy had its price target lowered by analysts at UBS Group AG from $57.00 to $44.00. They now have a “neutral” rating on the stock.

PBF Energy Price Performance

Shares of PBF traded up $0.68 during trading hours on Wednesday, hitting $32.40. 1,685,182 shares of the stock were exchanged, compared to its average volume of 2,151,841. The stock’s 50-day moving average price is $33.85 and its two-hundred day moving average price is $43.66. PBF Energy Inc. has a 12-month low of $30.17 and a 12-month high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 2.24 and a beta of 1.55.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. PBF Energy’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. Research analysts expect that PBF Energy Inc. will post 0.35 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 55,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $30.85 per share, with a total value of $1,696,750.00. Following the completion of the acquisition, the insider now owns 23,462,398 shares in the company, valued at $723,814,978.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased a total of 2,952,300 shares of company stock worth $97,300,026 in the last ninety days. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in PBF Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after purchasing an additional 69,422 shares during the last quarter. Acadian Asset Management LLC lifted its stake in PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management grew its stake in shares of PBF Energy by 2.7% in the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock valued at $59,409,000 after buying an additional 34,470 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of PBF Energy by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock valued at $45,712,000 after buying an additional 32,862 shares during the period. Finally, AQR Capital Management LLC lifted its stake in PBF Energy by 14.8% during the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after acquiring an additional 84,532 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.