PBF Energy (NYSE:PBF) Price Target Cut to $66.00 by Analysts at Wells Fargo & Company

PBF Energy (NYSE:PBFFree Report) had its price objective cut by Wells Fargo & Company from $67.00 to $66.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

PBF has been the subject of several other research reports. TD Cowen decreased their price target on PBF Energy from $54.00 to $45.00 and set a hold rating for the company in a research note on Friday, May 3rd. Mizuho cut PBF Energy from a buy rating to a neutral rating and boosted their price target for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Scotiabank boosted their price target on PBF Energy from $39.00 to $56.00 and gave the stock a sector perform rating in a research note on Thursday, April 11th. Bank of America upgraded PBF Energy from a neutral rating to a buy rating and boosted their price target for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Finally, Piper Sandler reduced their price objective on PBF Energy from $61.00 to $54.00 and set a neutral rating for the company in a research report on Tuesday, May 14th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy has an average rating of Hold and a consensus target price of $56.82.

Read Our Latest Research Report on PBF Energy

PBF Energy Trading Up 4.1 %

PBF Energy stock opened at $47.64 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $53.20 and its two-hundred day simple moving average is $49.33. PBF Energy has a 12 month low of $38.23 and a 12 month high of $62.88. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 3.30 and a beta of 1.63.

PBF Energy (NYSE:PBFGet Free Report) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The business had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.29 billion. As a group, equities analysts predict that PBF Energy will post 7.19 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

Insiders Place Their Bets

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at $8,958,084.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $10,074,600 over the last quarter. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the period. Rise Advisors LLC bought a new position in PBF Energy during the first quarter valued at approximately $27,000. Creekmur Asset Management LLC bought a new position in PBF Energy during the fourth quarter valued at approximately $29,000. Fifth Third Bancorp boosted its stake in PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 222 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in PBF Energy during the fourth quarter valued at approximately $44,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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