PBF Energy (NYSE:PBF) had its target price hoisted by Citigroup from $50.00 to $55.00 in a report issued on Friday morning, MarketBeat reports. Citigroup currently has a hold rating on the oil and gas company’s stock.
Other equities research analysts have also issued research reports about the company. ValuEngine lowered PBF Energy from a strong-buy rating to a buy rating in a research note on Monday, July 2nd. Mizuho started coverage on PBF Energy in a research note on Wednesday, August 1st. They set a buy rating and a $55.00 price objective for the company. Royal Bank of Canada reissued a hold rating and set a $46.00 price objective on shares of PBF Energy in a research note on Friday, August 3rd. Credit Suisse Group lifted their price objective on PBF Energy from $37.00 to $46.00 and gave the company a neutral rating in a research note on Monday, June 4th. Finally, Goldman Sachs Group raised PBF Energy from a sell rating to a neutral rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $43.67.
Shares of PBF Energy stock traded down $0.26 during trading hours on Friday, reaching $50.68. The company had a trading volume of 1,332,463 shares, compared to its average volume of 1,880,032. PBF Energy has a one year low of $24.51 and a one year high of $53.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 0.63. The firm has a market capitalization of $5.80 billion, a P/E ratio of 44.46, a PEG ratio of 1.15 and a beta of 1.45.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $6.15 billion. PBF Energy had a return on equity of 9.82% and a net margin of 3.40%. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. sell-side analysts expect that PBF Energy will post 2.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Shareholders of record on Wednesday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.37%. PBF Energy’s payout ratio is 105.26%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. Smithfield Trust Co. purchased a new stake in PBF Energy during the second quarter valued at about $121,000. Itau Unibanco Holding S.A. purchased a new stake in PBF Energy during the second quarter valued at about $132,000. Point72 Hong Kong Ltd purchased a new stake in PBF Energy during the second quarter valued at about $145,000. Cerebellum GP LLC purchased a new stake in PBF Energy during the second quarter valued at about $175,000. Finally, Sun Life Financial INC purchased a new stake in PBF Energy during the second quarter valued at about $200,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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