The Goldman Sachs Group Trims PBF Energy (NYSE:PBF) Target Price to $50.00

PBF Energy (NYSE:PBF) had its price objective trimmed by The Goldman Sachs Group from $57.00 to $50.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the stock an overweight rating in a research report on Monday, April 1st. TD Cowen cut their price objective on shares of PBF Energy from $54.00 to $45.00 and set a hold rating on the stock in a research report on Friday, May 3rd. Piper Sandler cut their price objective on shares of PBF Energy from $54.00 to $47.00 and set a neutral rating on the stock in a research report on Friday, June 14th. Scotiabank increased their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Finally, Mizuho cut their price objective on shares of PBF Energy from $58.00 to $54.00 and set a neutral rating on the stock in a research report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $54.91.

PBF Energy Stock Performance

Shares of PBF opened at $45.75 on Monday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.42 billion, a P/E ratio of 3.17 and a beta of 1.60. The firm’s fifty day simple moving average is $47.99 and its two-hundred day simple moving average is $49.57. PBF Energy has a 12 month low of $39.18 and a 12 month high of $62.88.

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, beating analysts’ consensus estimates of $0.62 by $0.24. The business 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%. As a group, analysts predict that PBF Energy will post 5.26 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 2.19%. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 600,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $44.13 per share, for a total transaction of $26,478,000.00. Following the purchase, the insider now owns 16,004,098 shares in the company, valued at approximately $706,260,844.74. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders bought 2,091,100 shares of company stock worth $93,004,617. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in PBF Energy in the 4th quarter worth approximately $54,832,000. Janus Henderson Group PLC boosted its holdings in PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after purchasing an additional 547,509 shares during the period. SG Americas Securities LLC boosted its holdings in PBF Energy by 14,785.7% in the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after purchasing an additional 539,381 shares during the period. Natixis bought a new position in PBF Energy in the 1st quarter valued at $16,269,000. Finally, LSV Asset Management boosted its holdings in PBF Energy by 20.4% in the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock valued at $56,045,000 after purchasing an additional 216,400 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.