PBF Energy Inc. (NYSE:PBF – Get Rating) reached a new 52-week high during trading on Tuesday . The company traded as high as $50.86 and last traded at $44.07, with a volume of 271473 shares traded. The stock had previously closed at $43.80.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Cowen upped their price target on shares of PBF Energy to $35.00 in a report on Tuesday, November 1st. Wells Fargo & Company lowered their target price on shares of PBF Energy from $59.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, January 5th. The Goldman Sachs Group upped their target price on shares of PBF Energy from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, October 28th. Mizuho restated a "buy" rating and issued a $50.00 target price (up previously from $43.00) on shares of PBF Energy in a research report on Tuesday, January 10th. Finally, Piper Sandler increased their target price on shares of PBF Energy from $53.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.69.
Get PBF Energy alerts:PBF Energy Trading Down 0.3 %
The company's 50 day moving average price is $40.05 and its 200 day moving average price is $37.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.72 and a current ratio of 1.21. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 2.28 and a beta of 1.92.
PBF Energy (NYSE:PBF – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $1.93. The company had revenue of $12.76 billion for the quarter, compared to analyst estimates of $10.12 billion. PBF Energy had a net margin of 5.44% and a return on equity of 73.75%. Research analysts anticipate that PBF Energy Inc. will post 23.56 EPS for the current year.PBF Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Monday, November 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. PBF Energy's dividend payout ratio (DPR) is presently 4.16%.
Insider Buying and Selling
In related news, SVP Paul T. Davis sold 117,500 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the sale, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $2,086,277.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PBF Energy news, SVP Paul T. Davis sold 117,500 shares of the company's stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the transaction, the senior vice president now owns 44,126 shares of the company's stock, valued at approximately $2,086,277.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John C. Barone sold 32,500 shares of the company's stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $45.97, for a total value of $1,494,025.00. Following the transaction, the insider now directly owns 14,662 shares in the company, valued at approximately $674,012.14. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in PBF Energy during the 3rd quarter worth $33,000. Exchange Traded Concepts LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $33,000. Financial Management Professionals Inc. acquired a new position in shares of PBF Energy in the 3rd quarter valued at $34,000. Ronald Blue Trust Inc. lifted its stake in shares of PBF Energy by 5,747.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,228 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 1,207 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of PBF Energy in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 90.69% of the company's stock.
About PBF Energy
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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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