Brokerages Set PBF Energy Inc (PBF) Price Target at $49.56

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PBF Energy Inc (NYSE:PBF) has received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $49.00.

A number of research firms recently issued reports on PBF. ValuEngine cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. TheStreet cut shares of PBF Energy from a “b” rating to a “c+” rating in a research note on Friday, February 15th. Credit Suisse Group raised shares of PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Wednesday. Raymond James dropped their price target on shares of PBF Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Finally, Bank of America raised shares of PBF Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, April 29th.

In other PBF Energy news, CEO Thomas J. Nimbley bought 25,000 shares of the stock in a transaction on Monday, March 11th. The shares were bought at an average price of $30.03 per share, with a total value of $750,750.00. Following the purchase, the chief executive officer now directly owns 365,990 shares in the company, valued at approximately $10,990,679.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc raised its holdings in shares of PBF Energy by 10.0% during the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after acquiring an additional 1,121,082 shares during the period. BlackRock Inc. raised its holdings in shares of PBF Energy by 1.0% during the 1st quarter. BlackRock Inc. now owns 10,948,546 shares of the oil and gas company’s stock worth $340,937,000 after acquiring an additional 104,616 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PBF Energy by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,690,309 shares of the oil and gas company’s stock worth $239,479,000 after acquiring an additional 180,202 shares during the period. Bank of Montreal Can raised its holdings in shares of PBF Energy by 87.9% during the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock worth $87,796,000 after acquiring an additional 1,319,222 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of PBF Energy by 18.8% during the 4th quarter. APG Asset Management N.V. now owns 1,796,200 shares of the oil and gas company’s stock worth $51,333,000 after acquiring an additional 284,800 shares during the period. 96.87% of the stock is currently owned by institutional investors.

PBF Energy stock traded down $0.69 during trading on Friday, reaching $30.67. The company had a trading volume of 1,426,100 shares, compared to its average volume of 1,775,808. PBF Energy has a 1-year low of $28.01 and a 1-year high of $53.91. The stock has a market capitalization of $3.76 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 1.53.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.23). PBF Energy had a net margin of 1.23% and a return on equity of 8.25%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the business posted ($0.29) EPS. PBF Energy’s revenue was down 10.1% compared to the same quarter last year. Sell-side analysts predict that PBF Energy will post 1.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a yield of 3.91%. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.

About PBF Energy

PBF Energy Inc, together with 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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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