PBF Energy (NYSE:PBF) Price Target Raised to $37.00 at UBS Group

PBF Energy (NYSE:PBF) had its price objective lifted by UBS Group from $28.00 to $37.00 in a report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho raised their target price on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. Bank of America raised their target price on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Citigroup raised their target price on PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their target price on PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Piper Sandler raised their target price on PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $26.38.

PBF Energy Trading Up 4.4%

Shares of NYSE:PBF opened at $33.61 on Tuesday. The company has a market capitalization of $3.89 billion, a P/E ratio of -3.91 and a beta of 0.98. PBF Energy has a 1 year low of $13.61 and a 1 year high of $34.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The business’s 50 day simple moving average is $26.02 and its 200 day simple moving average is $22.09.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.54) earnings per share. On average, research analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, August 14th. PBF Energy’s dividend payout ratio is presently -12.81%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in PBF Energy by 25.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 522 shares during the last quarter. Teacher Retirement System of Texas raised its position in PBF Energy by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 527 shares during the last quarter. Bank of Montreal Can raised its position in PBF Energy by 5.7% during the 2nd quarter. Bank of Montreal Can now owns 11,734 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 629 shares during the last quarter. Signaturefd LLC raised its position in PBF Energy by 8.1% during the 2nd quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 664 shares during the last quarter. Finally, Vident Advisory LLC raised its position in PBF Energy by 9.5% during the 4th quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 698 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

About PBF Energy

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.