Credit Suisse Group upgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to an outperform rating in a report released on Wednesday morning, Benzinga reports. Credit Suisse Group currently has $42.00 target price on the oil and gas company’s stock.
A number of other equities research analysts have also commented on the company. ValuEngine lowered PBF Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. TheStreet upgraded PBF Energy from a c+ rating to a b rating in a report on Friday, May 3rd. Bank of America upgraded PBF Energy from an underperform rating to a neutral rating in a report on Monday, April 29th. Raymond James reduced their price target on PBF Energy from $41.00 to $40.00 and set an outperform rating for the company in a report on Tuesday, April 9th. Finally, Tudor Pickering lowered PBF Energy from a buy rating to a hold rating in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $48.33.
NYSE PBF traded down $0.69 during trading on Wednesday, reaching $30.67. 1,426,180 shares of the company’s stock were exchanged, compared to its average volume of 1,885,514. PBF Energy has a fifty-two week low of $28.01 and a fifty-two week high of $53.91. The firm has a market capitalization of $3.68 billion, a PE ratio of 9.41, a PEG ratio of 1.71 and a beta of 1.39. The company has a current ratio of 1.53, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The company’s revenue was down 10.1% compared to the same quarter last year. Research analysts anticipate that PBF Energy will post 1.93 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.91%. PBF Energy’s dividend payout ratio is 36.81%.
In other news, CEO Thomas J. Nimbley purchased 25,000 shares of PBF Energy stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $30.03 per share, for a total transaction of $750,750.00. Following the acquisition, the chief executive officer now directly owns 365,990 shares in the company, valued at $10,990,679.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of PBF. Norges Bank bought a new position in shares of PBF Energy in the 4th quarter valued at approximately $57,524,000. Oregon Public Employees Retirement Fund raised its stake in shares of PBF Energy by 3,260.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,389 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 1,521,723 shares in the last quarter. Bank of Montreal Can raised its stake in shares of PBF Energy by 87.9% in the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock valued at $87,796,000 after acquiring an additional 1,319,222 shares in the last quarter. Vanguard Group Inc raised its stake in shares of PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock valued at $615,695,000 after acquiring an additional 1,121,082 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of PBF Energy by 94.7% in the 4th quarter. Deutsche Bank AG now owns 1,101,455 shares of the oil and gas company’s stock valued at $35,981,000 after acquiring an additional 535,725 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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