PBF Energy (NYSE:PBF) Given New $61.00 Price Target at Piper Sandler

PBF Energy (NYSE:PBF) had its price target raised by Piper Sandler from $50.00 to $61.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other equities analysts also recently issued reports on PBF. TD Cowen upped their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the company a market perform rating in a research note on Friday, February 16th. UBS Group reduced their price objective on shares of PBF Energy from $53.00 to $49.00 and set a neutral rating on the stock in a research note on Thursday, December 7th. Wells Fargo & Company upped their price objective on shares of PBF Energy from $64.00 to $65.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Bank of America raised shares of PBF Energy from a neutral rating to a buy rating and upped their price objective for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Finally, StockNews.com downgraded shares of PBF Energy from a buy rating to a hold rating in a research note on Monday, December 18th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $57.10.

PBF Energy Stock Up 1.8 %

Shares of NYSE PBF opened at $62.05 on Friday. PBF Energy has a 12-month low of $31.25 and a 12-month high of $62.88. The company has a market capitalization of $7.42 billion, a PE ratio of 3.77 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The firm’s 50-day moving average is $52.12 and its two-hundred day moving average is $47.98.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same period last year, the company earned $4.41 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities analysts anticipate that PBF Energy will post 6.22 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s payout ratio is currently 6.08%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 770,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was bought at an average price of $42.95 per share, with a total value of $33,071,500.00. Following the completion of the transaction, the insider now directly owns 13,832,998 shares of the company’s stock, valued at $594,127,264.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Control Empresarial De Capital purchased 770,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was acquired at an average cost of $42.95 per share, with a total value of $33,071,500.00. Following the acquisition, the insider now owns 13,832,998 shares in the company, valued at $594,127,264.10. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at $8,958,084.06. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 1,268,200 shares of company stock valued at $54,251,872 and sold 180,000 shares valued at $10,074,600. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently added to or reduced their stakes in PBF. GAMMA Investing LLC boosted its stake in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. Quadrature Capital Ltd bought a new position in PBF Energy during the 4th quarter valued at $497,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PBF Energy by 205.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 231,800 shares of the oil and gas company’s stock valued at $10,190,000 after acquiring an additional 156,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in PBF Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after acquiring an additional 69,422 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new position in PBF Energy during the 4th quarter valued at $29,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.