PBF Energy Inc (NYSE:PBF) shares traded -7.52% lower at $45.65 on Wall Street last session.
In accordance with the data, 13 analysts cover PBF Energy Inc (NYSE:PBF). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $40.00, we find $55.50. Given the previous closing price of $49.36, this indicates a potential upside of 12.44 percent. PBF stock price is now -8.04% away from the 50-day moving average and 7.40% away from the 200-day moving average. The market capitalization of the company currently stands at $5.64B.
It has been rated a hold by 9 analysts and a buy by 4. Brokers who have rated the stock have averaged $55.33 as their price target over the next twelve months.
With the price target enhanced from $46 to $56, BofA Securities Downgraded its rating from Buy to Neutral for PBF Energy Inc (NYSE: PBF).
In other news, Fedena James E., Senior Vice President sold 63,688 shares of the company’s stock on Sep 28. The stock was sold for $3,508,725 at an average price of $55.09. Upon completion of the transaction, the Senior Vice President now directly owns 80,859 shares in the company, valued at $3.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 28, Senior Vice President O Connor Thomas L sold 50,000 shares of the business’s stock. A total of $2,758,430 was realized by selling the stock at an average price of $55.17. This leaves the insider owning 117,503 shares of the company worth $5.36 million. Insiders disposed of 279,297 shares of company stock worth roughly $12.75 million over the past 1 year. A total of 11.63% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PBF stock. A new stake in PBF Energy Inc shares was purchased by MACQUARIE GROUP LTD during the first quarter worth $64,842,000. AVENTAIL CAPITAL GROUP, LP invested $35,383,000 in shares of PBF during the first quarter. In the first quarter, HOLOCENE ADVISORS, LP acquired a new stake in PBF Energy Inc valued at approximately $33,992,000. THOMIST CAPITAL MANAGEMENT, LP acquired a new stake in PBF for approximately $10,869,000. WALLEYE CAPITAL LLC purchased a new stake in PBF valued at around $10,369,000 in the second quarter. In total, there are 489 active investors with 81.86% ownership of the company’s stock.
PBF Energy Inc (NYSE: PBF) opened at $48.14 on Wednesday. During the past 12 months, PBF Energy Inc has had a low of $31.25 and a high of $56.38. As of last week, the company has a debt-to-equity ratio of 0.37, a current ratio of 1.47, and a quick ratio of 0.81. The fifty day moving average price for PBF is $49.65 and a two-hundred day moving average price translates $42.55 for the stock.
The latest earnings results from PBF Energy Inc (NYSE: PBF) was released for Jun, 2023. According to the Oil & Gas Refining & Marketing Company, earnings per share came in at $2.29, beating analysts’ expectations of $2.21 by 0.08. This compares to $9.65 EPS in the same period last year. The net profit margin was 7.36% and return on equity was 67.37% for PBF. The company reported revenue of $9.16 billion for the quarter, compared to $14.08 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -34.95 percent. For the current quarter, analysts expect PBF to generate $9.82B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/31/2023. Investors who held shares on 08/17/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.84 dividend and a 1.84% percent yield. There was an ex-dividend date of 08/16/2023 for this dividend. In terms of dividend payout ratio, PBF is presently at 0.88%.
PBF Energy Inc(PBF) 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. The company sells its products in Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as in other regions of the United States, Canada, and Mexico. It also offers various rail, truck, and marine terminaling services, as well as pipeline transportation and storage services. PBF Energy Inc. was founded in 2008 and is based in Parsippany, New Jersey.
