Credit Suisse Group lowered shares of PBF Energy Inc. (NYSE:PBF) from a neutral rating to an underperform rating in a research note published on Tuesday, Marketbeat reports. Credit Suisse Group currently has $18.00 price target on the oil and gas company’s stock.
Other analysts have also issued reports about the company. Morgan Stanley lowered PBF Energy from an overweight rating to an equal weight rating in a report on Monday, February 27th. Royal Bank Of Canada restated a hold rating and issued a $24.00 target price on shares of PBF Energy in a research report on Monday, March 20th. Zacks Investment Research upgraded PBF Energy from a sell rating to a hold rating in a research report on Friday, May 5th. Citigroup Inc. restated a buy rating and issued a $37.50 target price (down previously from $39.00) on shares of PBF Energy in a research report on Saturday, April 22nd. Finally, Vetr upgraded PBF Energy from a buy rating to a strong-buy rating in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $23.55.
Shares of PBF Energy (NYSE:PBF) opened at 21.75 on Tuesday. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98. The company has a market capitalization of $2.39 billion, a P/E ratio of 13.02 and a beta of 1.42. The company has a 50-day moving average price of $21.30 and a 200 day moving average price of $23.17.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.26. PBF Energy had a negative return on equity of 4.20% and a net margin of 0.95%. The firm had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period last year, the business posted ($0.65) earnings per share. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. On average, equities analysts anticipate that PBF Energy will post $1.01 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Friday, May 12th. PBF Energy’s payout ratio is currently 68.97%.
In related news, insider Connor Thomas L. O acquired 10,000 shares of PBF Energy stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $20.17 per share, with a total value of $201,700.00. Following the purchase, the insider now directly owns 105,135 shares in the company, valued at $2,120,572.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, with a total value of $984,500.00. Following the completion of the purchase, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Aberdeen Asset Management PLC UK increased its stake in PBF Energy by 9.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 26,475 shares of the oil and gas company’s stock valued at $738,000 after buying an additional 2,239 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in PBF Energy by 2.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 102,000 shares of the oil and gas company’s stock valued at $2,844,000 after buying an additional 2,879 shares in the last quarter. Cipher Capital LP bought a new stake in PBF Energy during the fourth quarter valued at approximately $597,000. RidgeWorth Capital Management LLC bought a new stake in PBF Energy during the fourth quarter valued at approximately $307,000. Finally, Royce & Associates LP increased its stake in PBF Energy by 92.6% in the fourth quarter. Royce & Associates LP now owns 105,011 shares of the oil and gas company’s stock valued at $2,928,000 after buying an additional 50,500 shares in the last quarter.
About PBF Energy
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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