PBF Energy Inc (NYSE:PBF) has been given an average rating of “Hold” by the twenty brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $37.50.
Several research firms have weighed in on PBF. Scotia Howard Weill reiterated a “sector perform” rating on shares of PBF Energy in a report on Wednesday, April 11th. Raymond James upgraded shares of PBF Energy from a “market perform” rating to an “outperform” rating in a report on Monday, June 4th. Morgan Stanley boosted their target price on shares of PBF Energy from $37.00 to $38.00 and gave the company a “sell” rating in a report on Monday, April 16th. ValuEngine upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Finally, Scotiabank reiterated a “sector perform” rating on shares of PBF Energy in a report on Thursday, April 12th.
Several hedge funds have recently modified their holdings of PBF. Hanseatic Management Services Inc. lifted its holdings in shares of PBF Energy by 559.5% in the 1st quarter. Hanseatic Management Services Inc. now owns 3,146 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 2,669 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of PBF Energy in the 4th quarter worth approximately $222,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PBF Energy by 82.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,661 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 3,017 shares during the last quarter. Greenwich Investment Management Inc. acquired a new position in shares of PBF Energy in the 4th quarter worth approximately $236,000. Finally, Element Capital Management LLC acquired a new position in shares of PBF Energy in the 1st quarter worth approximately $257,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 3rd. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.10). PBF Energy had a net margin of 2.09% and a return on equity of 4.39%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company posted ($0.20) EPS. The firm’s revenue was up 22.0% on a year-over-year basis. sell-side analysts forecast that PBF Energy will post 3.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Tuesday, May 15th were issued a $0.30 dividend. The ex-dividend date was Monday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. PBF Energy’s dividend payout ratio is currently 105.26%.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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