PBF Energy Inc. (NYSE:PBF) Stock Has Average Price Target of $59.55 According to Analysts

by · The Cerbat Gem

Shares of PBF Energy Inc. (NYSE:PBF – Get Free Report) have received a consensus rating of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $59.55.

A number of research firms have weighed in on PBF. The Goldman Sachs Group increased their price target on shares of PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. UBS Group boosted their price target on PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. BMO Capital Markets restated a “market perform” rating on shares of PBF Energy in a report on Thursday. Mizuho boosted their target price on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st.

Get Our Latest Research Report on PBF Energy

PBF Energy Trading Down 2.1%

Shares of PBF Energy stock opened at $80.62 on Wednesday. The company has a 50-day moving average of $71.91 and a two-hundred day moving average of $54.59. PBF Energy has a 12-month low of $25.62 and a 12-month high of $83.36. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.56 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.07 and a beta of 0.18.

PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the business posted ($1.03) earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, research analysts anticipate that PBF Energy will post 22.61 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Insider Buying and Selling

In other news, Director Thomas Nimbley sold 116,008 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the transaction, the director directly owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Trecia Canty sold 75,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $74.10, for a total transaction of $5,557,500.00. Following the completion of the transaction, the senior vice president owned 191,779 shares of the company’s stock, valued at $14,210,823.90. This trade represents a 28.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,926,374 shares of company stock valued at $335,005,837. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PBF Energy

Several large investors have recently modified their holdings of the business. Leonteq Securities AG bought a new stake in PBF Energy in the first quarter valued at $33,000. IFP Advisors Inc raised its stake in PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 591 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in PBF Energy during the 4th quarter worth $57,000. Global Retirement Partners LLC boosted its position in PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 2,147 shares during the period. Finally, Strs Ohio bought a new position in shares of PBF Energy in the first quarter worth $143,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

(Get Free Report)

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.

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