According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “
A number of other equities analysts have also weighed in on PBF. 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. Royal Bank of Canada reaffirmed a hold rating and issued a $24.00 target price on shares of PBF Energy in a research note on Monday, March 20th. Finally, Tudor Pickering lowered shares of PBF Energy from a buy rating to a hold rating in a research note on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $22.80.
Shares of PBF Energy (NYSE:PBF) opened at 21.23 on Wednesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 12.23 and a beta of 1.39. The company’s 50-day moving average price is $23.02 and its 200-day moving average price is $23.82. PBF Energy has a 52-week low of $19.47 and a 52-week high of $35.67.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 16th. The company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.49. The company earned $4.75 billion during the quarter, compared to analyst estimates of $4.16 billion. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. PBF Energy’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, equities research analysts expect that PBF Energy will post $1.36 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, February 27th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, February 23rd. This is a boost from PBF Energy’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 5.65%. PBF Energy’s payout ratio is -2,400.00%.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of PBF Energy by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 10,936,975 shares of the company’s stock valued at $247,613,000 after buying an additional 2,626,728 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of PBF Energy by 6.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,363,313 shares of the company’s stock valued at $205,289,000 after buying an additional 463,865 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PBF Energy by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,744,973 shares of the company’s stock valued at $160,169,000 after buying an additional 584,817 shares during the period. Snow Capital Management LP boosted its stake in shares of PBF Energy by 21.3% in the third quarter. Snow Capital Management LP now owns 3,585,121 shares of the company’s stock worth $81,167,000 after buying an additional 629,957 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of PBF Energy by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,479,722 shares of the company’s stock worth $56,141,000 after buying an additional 29,692 shares during the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
About PBF Energy
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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