PBF Energy Inc. (NYSE:PBF) Receives Consensus Recommendation of “Reduce” from Analysts

PBF Energy Inc. (NYSE:PBF) has received a consensus rating of “Reduce” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.00.

Several research firms have weighed in on PBF. JPMorgan Chase & Co. lowered their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Scotiabank lowered their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and cut their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. The Goldman Sachs Group cut their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $34.00 in a research report on Monday, December 9th.

PBF Energy Trading Up 1.8 %

Shares of NYSE PBF opened at $31.03 on Monday. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy has a 12 month low of $24.21 and a 12 month high of $62.88. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.61. The business has a fifty day simple moving average of $29.16 and a 200-day simple moving average of $32.67.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business’s revenue was down 21.9% on a year-over-year basis. During the same period last year, the business earned $6.61 earnings per share. Sell-side analysts predict that PBF Energy will post -2.95 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.54%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 100,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were bought at an average cost of $28.62 per share, for a total transaction of $2,862,000.00. Following the purchase, the insider now owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 2,469,600 shares of company stock valued at $73,932,721 over the last quarter. 6.20% of the stock is owned by company insiders.

Institutional Trading of PBF Energy

Several institutional investors have recently bought and sold shares of PBF. Neo Ivy Capital Management acquired a new stake in shares of PBF Energy in the 3rd quarter valued at $2,404,000. Dakota Wealth Management bought a new position in PBF Energy during the 3rd quarter valued at about $694,000. Intech Investment Management LLC lifted its holdings in PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 28,770 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in PBF Energy by 44.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after buying an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after buying an additional 26,952 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

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.