PBF Energy (NYSE:PBF) Stock Price Up 5%

Shares of PBF Energy Inc. (NYSE:PBF) rose 5% on Friday . The company traded as high as $53.76 and last traded at $53.76. Approximately 298,057 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,629,154 shares. The stock had previously closed at $51.19.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of research analyst reports. Piper Sandler raised their target price on PBF Energy from $58.00 to $62.00 in a report on Friday, August 4th. Morgan Stanley reissued an “equal weight” rating and set a $50.00 price objective on shares of PBF Energy in a report on Wednesday, July 19th. UBS Group cut their price objective on PBF Energy from $53.00 to $48.00 in a report on Friday, June 30th. The Goldman Sachs Group raised their price objective on PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, September 1st. Finally, TheStreet raised PBF Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.40.

PBF Energy Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 1.47. The company has a 50 day moving average price of $45.36 and a 200 day moving average price of $41.72. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 2.26 and a beta of 1.92.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.22 by $0.07. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $8.93 billion. PBF Energy had a return on equity of 42.15% and a net margin of 7.36%. The firm’s revenue for the quarter was down 34.9% compared to the same quarter last year. During the same period last year, the business posted $10.58 EPS. Equities research analysts predict that PBF Energy Inc. will post 10.15 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. PBF Energy’s dividend payout ratio is presently 3.33%.

Institutional Trading of PBF Energy

Large investors have recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new position in PBF Energy during the 2nd quarter valued at about $1,085,000. Virginia Retirement Systems ET AL acquired a new position in PBF Energy during the 2nd quarter valued at about $2,366,000. Comerica Bank acquired a new position in PBF Energy during the 2nd quarter valued at about $17,569,000. California State Teachers Retirement System boosted its stake in PBF Energy by 7.9% during the 2nd quarter. California State Teachers Retirement System now owns 142,544 shares of the oil and gas company’s stock valued at $5,836,000 after purchasing an additional 10,417 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in PBF Energy by 23.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 27,640 shares of the oil and gas company’s stock valued at $1,132,000 after purchasing an additional 5,223 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc, together with 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.