PBF Energy’s (PBF) Buy Rating Reaffirmed at Citigroup Inc

Citigroup Inc reiterated their buy rating on shares of PBF Energy Inc (NYSE:PBF) in a report published on Saturday, April 22nd. They currently have a $37.50 price objective on the oil and gas company’s stock, down from their prior price objective of $39.00.

A number of other research analysts have also commented on the company. Barclays PLC reiterated an outperform rating on shares of PBF Energy in a report on Friday, April 14th. Vetr upgraded PBF Energy from a buy rating to a strong-buy rating in a report on Thursday, April 6th. Goldman Sachs Group Inc upgraded PBF Energy from a sell rating to a neutral rating and upped their price target for the stock from $22.00 to $23.00 in a report on Wednesday, April 5th. They noted that the move was a valuation call. Scotiabank reiterated a buy rating and set a $24.00 price target on shares of PBF Energy in a report on Monday, March 27th. Finally, Zacks Investment Research upgraded PBF Energy from a strong sell rating to a hold rating in a research note on Wednesday, March 22nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of Buy and an average price target of $24.15.

PBF Energy (NYSE:PBF) traded up 2.49% during midday trading on Friday, hitting $21.80. 1,930,479 shares of the stock were exchanged. PBF Energy has a 12-month low of $19.47 and a 12-month high of $30.98. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 12.56 and a beta of 1.39. The firm has a 50 day moving average of $21.60 and a 200-day moving average of $23.75.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.26. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. The company had revenue of $4.75 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned ($0.65) earnings per share. The company’s quarterly revenue was up 69.8% compared to the same quarter last year. On average, equities analysts expect that PBF Energy will post $1.17 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Friday, May 12th. PBF Energy’s dividend payout ratio is -2,400.00%.

A number of institutional investors have recently modified their holdings of PBF. Whittier Trust Co. of Nevada Inc. bought a new position in shares of PBF Energy during the third quarter worth about $104,000. Apriem Advisors boosted its position in shares of PBF Energy by 560.0% in the third quarter. Apriem Advisors now owns 4,950 shares of the oil and gas company’s stock worth $112,000 after buying an additional 4,200 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of PBF Energy during the first quarter worth about $113,000. US Bancorp DE boosted its position in shares of PBF Energy by 56.0% in the third quarter. US Bancorp DE now owns 6,921 shares of the oil and gas company’s stock worth $157,000 after buying an additional 2,484 shares during the period. Finally, IMS Capital Management bought a new position in shares of PBF Energy during the first quarter worth about $207,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.

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.

12 Month Chart for NYSE:PBF

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