PBF Energy (NYSE:PBF) Price Target Cut to $50.00 by Analysts at The Goldman Sachs Group

PBF Energy (NYSE:PBF) had its target price reduced by The Goldman Sachs Group from $57.00 to $50.00 in a research report report published on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other research analysts have also commented on the stock. Scotiabank upped their price target on shares of PBF Energy from $39.00 to $56.00 and gave the company a sector perform rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an overweight rating in a research note on Monday, April 1st. TD Cowen dropped their price objective on shares of 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 dropped their price target on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating for the company in a research note on Thursday, June 20th. Finally, Piper Sandler dropped their price target on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating for the company in a research note on Friday, June 14th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $55.45.

PBF Energy Price Performance

Shares of PBF stock opened at $46.50 on Monday. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 3.22 and a beta of 1.60. PBF Energy has a 12-month low of $39.18 and a 12-month high of $62.88. The firm has a fifty day moving average of $48.65 and a 200-day moving average of $49.55. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last issued its quarterly 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. The firm had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. On average, equities research analysts forecast that PBF Energy will post 5.26 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.15%. PBF Energy’s dividend payout ratio is 6.92%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 84,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average cost of $44.96 per share, with a total value of $3,776,640.00. Following the transaction, the insider now directly owns 14,429,198 shares in the company, valued at approximately $648,736,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 2,091,100 shares of company stock valued at $93,004,617 in the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

A number of large investors have recently made changes to their positions in PBF. Vanguard Group Inc. lifted its holdings in shares of PBF Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after buying an additional 69,422 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PBF Energy by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after purchasing an additional 120,414 shares during the last quarter. LSV Asset Management grew its holdings in shares of PBF Energy by 20.4% in the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after purchasing an additional 216,400 shares during the last quarter. Norges Bank bought a new position in shares of PBF Energy in the fourth quarter worth about $54,832,000. Finally, Acadian Asset Management LLC lifted its stake in PBF Energy by 4.8% in the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock worth $60,689,000 after acquiring an additional 48,525 shares during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

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.