PBF Energy Inc. (PBF) Receives Consensus Rating of “Hold” from Brokerages
Shares of PBF Energy Inc. (NYSE:PBF) have earned an average recommendation of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.25.
Several brokerages have weighed in on PBF. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Tudor Pickering raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Scotiabank set a $24.00 target price on shares of PBF Energy and gave the company a “buy” rating in a report on Monday, June 26th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $30.00 target price on shares of PBF Energy in a report on Thursday, August 17th.
Several institutional investors and hedge funds have recently made changes to their positions in PBF. BlackRock Inc. raised its position in shares of PBF Energy by 14,494.7% in the 1st quarter. BlackRock Inc. now owns 4,696,870 shares of the oil and gas company’s stock valued at $104,130,000 after purchasing an additional 4,664,688 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PBF Energy by 49.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,595,206 shares of the oil and gas company’s stock valued at $190,554,000 after acquiring an additional 2,850,233 shares in the last quarter. State Street Corp raised its position in shares of PBF Energy by 48.0% during the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after acquiring an additional 1,611,707 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PBF Energy by 8.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock valued at $264,551,000 after acquiring an additional 953,577 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of PBF Energy during the 1st quarter valued at approximately $19,439,000.
Shares of PBF Energy (NYSE PBF) traded up 0.44% during trading on Friday, hitting $24.83. 4,043,095 shares of the company’s stock were exchanged. The company has a 50-day moving average of $22.73 and a 200-day moving average of $21.97. The company’s market cap is $2.72 billion. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the company posted $0.14 EPS. On average, equities analysts expect that PBF Energy will post $0.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Friday, August 11th. PBF Energy’s dividend payout ratio is presently -363.64%.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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