Piper Sandler Boosts PBF Energy (NYSE:PBF) Price Target to $61.00

PBF Energy (NYSE:PBF) had its price target increased by Piper Sandler from $50.00 to $61.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research analysts have also recently commented on PBF. Citigroup began coverage on shares of PBF Energy in a report on Wednesday, January 24th. They issued a neutral rating for the company. UBS Group decreased their target price on shares of PBF Energy from $53.00 to $49.00 and set a neutral rating for the company in a report on Thursday, December 7th. Wells Fargo & Company raised their target price on shares of PBF Energy from $64.00 to $65.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of PBF Energy from $54.00 to $59.00 and gave the stock an overweight rating in a report on Monday, April 1st. Finally, StockNews.com cut shares of PBF Energy from a buy rating to a hold rating in a report on Monday, December 18th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $57.10.

PBF Energy Stock Performance

Shares of PBF opened at $62.04 on Friday. The firm’s 50 day moving average is $52.39 and its 200-day moving average is $48.00. The stock has a market capitalization of $7.42 billion, a P/E ratio of 3.77 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. PBF Energy has a 12-month low of $31.25 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.65 billion. During the same period in the prior year, the firm earned $4.41 EPS. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities research analysts anticipate that PBF Energy will post 6.22 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is currently 6.08%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 486,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average price of $42.48 per share, with a total value of $20,645,280.00. Following the completion of the transaction, the insider now owns 13,062,998 shares of the company’s stock, valued at approximately $554,916,155.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other PBF Energy news, insider Control Empresarial De Capital purchased 486,000 shares of the stock in a transaction on Friday, January 12th. The shares were purchased at an average price of $42.48 per share, with a total value of $20,645,280.00. Following the acquisition, the insider now directly owns 13,062,998 shares of the company’s stock, valued at approximately $554,916,155.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the sale, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,268,200 shares of company stock valued at $54,251,872 and have sold 180,000 shares valued at $10,074,600. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of PBF Energy by 12.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 295 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its stake in shares of PBF Energy by 6.7% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,875 shares of the oil and gas company’s stock valued at $261,000 after purchasing an additional 305 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of PBF Energy by 6.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,136 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.