PBF Energy (PBF) PT Set at $42.00 by Morgan Stanley

Morgan Stanley set a $42.00 price target on PBF Energy (NYSE:PBF) in a research report released on Friday, Stock Target Advisor reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of PBF Energy from a c+ rating to a b rating in a research note on Friday, May 3rd. ValuEngine raised shares of PBF Energy from a hold rating to a buy rating in a research note on Tuesday, January 29th. Tudor Pickering cut shares of PBF Energy from a buy rating to a hold rating in a research note on Friday, February 8th. Bank of America raised shares of PBF Energy from an underperform rating to a neutral rating in a research note on Monday, April 29th. Finally, Raymond James reduced their price objective on shares of PBF Energy from $41.00 to $40.00 and set an outperform rating on the stock in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. PBF Energy has a consensus rating of Hold and a consensus price target of $48.33.

Shares of PBF Energy stock traded down $0.69 during trading on Friday, hitting $30.67. The company’s stock had a trading volume of 1,426,180 shares, compared to its average volume of 1,885,514. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. PBF Energy has a 52 week low of $28.01 and a 52 week high of $53.91. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 1.71 and a beta of 1.39.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm earned ($0.29) EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that PBF Energy will post 1.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a yield of 3.91%. PBF Energy’s payout ratio is 36.81%.

In other news, CEO Thomas J. Nimbley bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $30.03 per share, for a total transaction of $750,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 365,990 shares in the company, valued at $10,990,679.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in PBF. Nordea Investment Management AB lifted its holdings in PBF Energy by 41.9% in the third quarter. Nordea Investment Management AB now owns 176,036 shares of the oil and gas company’s stock valued at $8,786,000 after buying an additional 51,936 shares during the period. Vanguard Group Inc raised its holdings in shares of PBF Energy by 10.0% during the third quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock valued at $615,695,000 after purchasing an additional 1,121,082 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of PBF Energy by 33.0% during the fourth quarter. Meeder Asset Management Inc. now owns 15,836 shares of the oil and gas company’s stock valued at $518,000 after purchasing an additional 3,927 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of PBF Energy during the fourth quarter valued at about $359,000. Finally, Bank of Montreal Can raised its holdings in shares of PBF Energy by 693.9% during the fourth quarter. Bank of Montreal Can now owns 1,500,199 shares of the oil and gas company’s stock valued at $49,012,000 after purchasing an additional 1,311,225 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

About PBF Energy

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

Featured Story: What are popular range trading strategies?

Analyst Recommendations for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.