PBF Energy Inc (PBF) Given “Hold” Rating at Royal Bank of Canada

PBF Energy Inc (NYSE:PBF)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Monday. They currently have a $24.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.59% from the stock’s current price.

Several other equities research analysts have also recently issued reports on PBF. Morgan Stanley cut PBF Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, February 27th. Scotiabank set a $25.00 target price on PBF Energy and gave the stock a “buy” rating in a report on Thursday, February 16th. Zacks Investment Research cut PBF Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Finally, Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.90.

Analyst Recommendations for PBF Energy (NYSE:PBF)

Shares of PBF Energy (NYSE:PBF) traded down 0.87% during trading on Monday, reaching $21.71. The company’s stock had a trading volume of 1,696,077 shares. PBF Energy has a 12-month low of $19.47 and a 12-month high of $35.67. The company has a 50 day moving average of $23.37 and a 200 day moving average of $23.83. The company has a market cap of $2.37 billion, a PE ratio of 12.51 and a beta of 1.39.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 16th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 earned $4.75 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. On average, analysts anticipate that PBF Energy will post $1.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, February 27th were paid a dividend of $0.30 per share. 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 5.48%. The ex-dividend date of this dividend was Thursday, February 23rd. PBF Energy’s payout ratio is presently -2,400.00%.

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A number of large investors have recently modified their holdings of PBF. California State Teachers Retirement System boosted its stake in shares of PBF Energy by 0.8% in the third quarter. California State Teachers Retirement System now owns 214,467 shares of the company’s stock valued at $4,856,000 after buying an additional 1,700 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of PBF Energy by 9.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 26,475 shares of the company’s stock valued at $738,000 after buying an additional 2,239 shares during the last quarter. US Bancorp DE boosted its stake 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 valued at $157,000 after buying an additional 2,484 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of PBF Energy by 21.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,273 shares of the company’s stock valued at $398,000 after buying an additional 2,681 shares during the last quarter. Finally, Brave Asset Management Inc boosted its stake in shares of PBF Energy by 27.8% in the third quarter. Brave Asset Management Inc now owns 13,100 shares of the company’s stock valued at $297,000 after buying an additional 2,850 shares during the last quarter. 98.70% of the stock is currently owned by 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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