The Goldman Sachs Group Trims PBF Energy (NYSE:PBF) Target Price to $39.00

PBF Energy (NYSE:PBF) had its price target decreased by The Goldman Sachs Group from $45.00 to $39.00 in a research note issued to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts also recently commented on the company. Wolfe Research started coverage on PBF Energy in a research report on Thursday, July 18th. They set a peer perform rating for the company. JPMorgan Chase & Co. downgraded PBF Energy from an overweight rating to a neutral rating and decreased their target price for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a hold rating to a sell rating in a research report on Monday, September 9th. Mizuho decreased their target price on PBF Energy from $48.00 to $42.00 and set a neutral rating for the company in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on PBF Energy from $57.00 to $44.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of Hold and a consensus price target of $43.45.

PBF Energy Stock Performance

Shares of PBF opened at $33.38 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 2.31 and a beta of 1.55. The stock has a 50 day moving average of $34.14 and a 200 day moving average of $44.00. PBF Energy has a 12 month low of $30.17 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, sell-side analysts forecast that PBF Energy will post 0.35 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 307,000 shares of PBF Energy stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $39.22 per share, for a total transaction of $12,040,540.00. Following the completion of the transaction, the insider now owns 18,079,598 shares in the company, valued at $709,081,833.56. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 2,952,300 shares of company stock worth $97,300,026. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently added to or reduced their stakes in PBF. Janus Henderson Group PLC boosted its stake in PBF Energy by 957.8% during the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after buying an additional 547,509 shares during the period. SG Americas Securities LLC boosted its stake in PBF Energy by 14,785.7% during the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after buying an additional 539,381 shares during the period. Hsbc Holdings PLC boosted its stake in PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after buying an additional 355,329 shares during the period. Acadian Asset Management LLC lifted its stake in PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares during the last quarter. Finally, Natixis bought a new stake in PBF Energy during the first quarter worth about $16,269,000. Institutional investors 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.