Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $54.30

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $54.30.

A number of research analysts have weighed in on PBF shares. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Scotiabank reduced their price target on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. TD Cowen reduced their price target on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Piper Sandler reduced their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Mizuho dropped their target price on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 38,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of $43.65 per share, for a total transaction of $1,658,700.00. Following the completion of the purchase, the insider now owns 16,042,098 shares in the company, valued at approximately $700,237,577.70. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders bought 2,091,100 shares of company stock worth $93,004,617. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in PBF Energy in the fourth quarter valued at $54,832,000. Janus Henderson Group PLC lifted its position in PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after acquiring an additional 547,509 shares during the last quarter. SG Americas Securities LLC lifted its position in PBF Energy by 14,785.7% in the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after acquiring an additional 539,381 shares during the last quarter. Natixis purchased a new stake in PBF Energy in the first quarter valued at $16,269,000. Finally, LSV Asset Management lifted its position in PBF Energy by 20.4% in 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 acquiring an additional 216,400 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Up 0.5 %

Shares of PBF Energy stock opened at $40.46 on Monday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $44.17 and its 200 day moving average price is $49.18. PBF Energy has a twelve month low of $37.62 and a twelve month high of $62.88. The firm has a market capitalization of $4.80 billion, a PE ratio of 2.80 and a beta of 1.60.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. On average, sell-side analysts predict that PBF Energy will post 3.19 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders 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 2.47%. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

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.