Mizuho Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price target lifted by Mizuho from $48.00 to $57.00 in a research note published on Tuesday, Marketbeat reports. The firm currently has a neutral rating on the oil and gas company’s stock.

PBF has been the topic of a number of other reports. Wall Street Zen downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup increased their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Scotiabank lifted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. TD Cowen raised PBF Energy from a “sell” rating to a “hold” rating and boosted their target price for the company from $36.00 to $39.00 in a research report on Monday, June 29th. Finally, Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $38.50.

PBF Energy Price Performance

NYSE:PBF opened at $60.82 on Tuesday. PBF Energy has a 52 week low of $21.24 and a 52 week high of $61.02. The stock’s fifty day moving average is $43.30 and its two-hundred day moving average is $39.73. The company has a market capitalization of $7.20 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.18 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same period in the previous year, the business posted ($3.53) earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that PBF Energy will post 8.26 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s payout ratio is presently 29.65%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $54.52, for a total value of $5,452,000.00. Following the sale, the insider owned 15,712,128 shares of the company’s stock, valued at $856,625,218.56. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 3,541,570 shares of company stock worth $165,787,386. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after purchasing an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PBF Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after acquiring an additional 12,289 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PBF Energy in the 2nd quarter valued at about $1,143,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.