PBF Energy Inc. (NYSE:PBF) Price Target Cut to $33.00

PBF Energy Inc. (NYSE:PBF) had its price objective trimmed by Citigroup Inc. from $33.50 to $33.00 in a research report sent to investors on Monday, August 7th. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other equities analysts also recently issued reports on the company. Barclays PLC reiterated an outperform rating on shares of PBF Energy in a research note on Friday, April 14th. Piper Jaffray Companies reissued a hold rating and set a $20.00 target price on shares of PBF Energy in a research report on Friday, July 14th. Credit Suisse Group cut shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 target price on the stock. in a research report on Tuesday, June 20th. BidaskClub cut shares of PBF Energy from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of PBF Energy from a sell rating to a hold rating in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. PBF Energy has an average rating of Hold and an average target price of $24.00.

PBF Energy (NYSE PBF) traded up 1.34% during mid-day trading on Monday, reaching $20.36. The company had a trading volume of 1,941,514 shares. The company’s market capitalization is $2.23 billion. PBF Energy has a one year low of $18.48 and a one year high of $30.98. The stock has a 50 day moving average price of $22.07 and a 200 day moving average price of $22.05.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same quarter last year, the firm posted $0.14 EPS. On average, equities analysts expect that PBF Energy will post $0.36 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.89%. PBF Energy’s dividend payout ratio (DPR) is presently -363.64%.

In related news, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $20.17 per share, with a total value of $201,700.00. Following the acquisition, the insider now owns 105,135 shares of the company’s stock, valued at approximately $2,120,572.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were acquired at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the acquisition, the chief executive officer now directly owns 290,000 shares in the company, valued at $5,710,100. The disclosure for this purchase can be found here. Insiders own 2.55% of the company’s stock.

Large investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. boosted its stake in shares of PBF Energy by 1.0% in the second quarter. First Allied Advisory Services Inc. now owns 17,239 shares of the oil and gas company’s stock worth $380,000 after buying an additional 177 shares during the last quarter. Clinton Group Inc. boosted its stake in shares of PBF Energy by 0.6% in the first quarter. Clinton Group Inc. now owns 29,207 shares of the oil and gas company’s stock worth $648,000 after buying an additional 181 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of PBF Energy by 1.0% in the second quarter. Utah Retirement Systems now owns 20,100 shares of the oil and gas company’s stock worth $447,000 after buying an additional 200 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of PBF Energy by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 23,704 shares of the oil and gas company’s stock worth $526,000 after buying an additional 314 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PBF Energy by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 26,436 shares of the oil and gas company’s stock worth $586,000 after buying an additional 316 shares during the last quarter.

PBF Energy Company Profile

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.