PBF Energy Inc (PBF) Given “Hold” Rating at Royal Bank of Canada
PBF Energy Inc (NYSE:PBF)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a note issued to investors on Monday. They presently have a $24.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.59% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 27th. Scotiabank set a $25.00 target price on shares of PBF Energy and gave the stock a “buy” rating in a research note on Thursday, February 16th. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 8th. Finally, Tudor Pickering lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. PBF Energy has an average rating of “Hold” and a consensus price target of $22.90.
Shares of PBF Energy (NYSE:PBF) traded down 0.87% during midday trading on Monday, reaching $21.71. The company’s stock had a trading volume of 1,696,077 shares. PBF Energy has a 52 week low of $19.47 and a 52 week high of $35.67. The stock has a market capitalization of $2.37 billion, a PE ratio of 12.51 and a beta of 1.39. The company has a 50 day moving average price of $23.37 and a 200-day moving average price of $23.83.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 16th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.49. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. The firm had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The company’s revenue was up 41.3% compared to the same quarter last year. On average, equities research analysts expect that PBF Energy will post $1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Monday, February 27th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 23rd. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 5.48%. PBF Energy’s dividend payout ratio (DPR) is currently -2,400.00%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of PBF Energy during the third quarter worth $104,000. Apriem Advisors raised its position in shares of PBF Energy by 560.0% in the third quarter. Apriem Advisors now owns 4,950 shares of the company’s stock worth $112,000 after buying an additional 4,200 shares in the last quarter. BKS Advisors LLC bought a new position in shares of PBF Energy during the third quarter worth $120,000. US Bancorp DE raised its position in shares of PBF Energy by 56.0% in the third quarter. US Bancorp DE now owns 6,921 shares of the company’s stock worth $157,000 after buying an additional 2,484 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of PBF Energy during the third quarter worth $232,000. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
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.
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