PBF Energy (NYSE:PBF) Given New $51.00 Price Target at Wells Fargo & Company

PBF Energy (NYSE:PBF) had its target price lowered by Wells Fargo & Company from $52.00 to $51.00 in a report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

Several other analysts also recently issued reports on PBF. UBS Group decreased their price objective on shares of PBF Energy from $57.00 to $44.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Wolfe Research started coverage on shares of PBF Energy in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Piper Sandler decreased their price objective on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a research note on Friday, June 14th. Mizuho decreased their price objective on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating for the company in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $57.00 to $50.00 and set a neutral rating for the company in a research note on Monday, July 1st. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, PBF Energy currently has a consensus rating of Hold and a consensus price target of $52.30.

PBF Energy Stock Up 0.3 %

Shares of NYSE:PBF opened at $32.33 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. PBF Energy has a 12 month low of $31.78 and a 12 month high of $62.88. The company has a 50-day moving average price of $37.87 and a 200 day moving average price of $46.62. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 2.24 and a beta of 1.57.

PBF Energy (NYSE:PBF) last announced its quarterly 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). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the business posted $2.29 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts predict that PBF Energy will post 1.61 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 403,400 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $44.36 per share, with a total value of $17,894,824.00. Following the completion of the purchase, the insider now owns 15,286,098 shares of the company’s stock, valued at approximately $678,091,307.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders purchased 2,623,100 shares of company stock valued at $108,540,627. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of PBF. Norges Bank purchased a new position in PBF Energy during the fourth quarter valued at approximately $54,832,000. Janus Henderson Group PLC increased its holdings in PBF Energy by 957.8% during 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 buying an additional 547,509 shares during the period. SG Americas Securities LLC increased its holdings in PBF Energy by 14,785.7% during 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 buying an additional 539,381 shares during the period. Hsbc Holdings PLC increased its holdings in PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after buying an additional 355,329 shares during the period. Finally, Acadian Asset Management LLC increased its holdings 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 valued at $64,489,000 after buying an additional 347,268 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.