PBF Energy (NYSE:PBF) Given New $26.00 Price Target at UBS Group

PBF Energy (NYSE:PBF) had its target price trimmed by UBS Group from $29.00 to $26.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts have also commented on the stock. TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.55.

PBF Energy Trading Up 1.8 %

PBF opened at $24.37 on Wednesday. The stock has a market capitalization of $2.80 billion, a PE ratio of -5.17 and a beta of 1.60. PBF Energy has a 12-month low of $22.03 and a 12-month high of $62.88. The firm’s fifty day moving average price is $27.86 and its 200 day moving average price is $30.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, research analysts expect that PBF Energy will post -0.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 4.51%. PBF Energy’s payout ratio is currently -23.35%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 409,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the purchase, the insider now directly owns 27,368,498 shares of the company’s stock, valued at approximately $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 1,868,500 shares of company stock worth $55,348,810. Insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Creative Planning boosted its holdings in shares of PBF Energy by 50.3% during the 3rd quarter. Creative Planning now owns 26,898 shares of the oil and gas company’s stock worth $832,000 after buying an additional 9,003 shares during the period. Blue Trust Inc. boosted its holdings in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. International Assets Investment Management LLC boosted its holdings in PBF Energy by 539.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,118 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 16,973 shares during the period. Dakota Wealth Management bought a new stake in PBF Energy in the 3rd quarter valued at about $694,000. Finally, Nisa Investment Advisors LLC boosted its holdings in PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 485 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.