PBF Energy Inc. (NYSE:PBF) Receives Average Rating of “Reduce” from Analysts

PBF Energy Inc. (NYSE:PBF) has been assigned a consensus recommendation of “Reduce” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy 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 $29.3846.

Several equities analysts have recently weighed in on PBF shares. Bank of America increased their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research report on Wednesday, September 3rd. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a report on Monday, December 8th. Scotiabank raised their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. The Goldman Sachs Group upped their target price on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $38.00 in a research note on Friday, December 12th.

Insider Buying and Selling

In other news, CAO Steven John Andriola sold 2,579 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $26.19, for a total transaction of $67,544.01. Following the transaction, the chief accounting officer directly owned 17,414 shares of the company’s stock, valued at approximately $456,072.66. This trade represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul T. Davis sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the senior vice president owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 429,624 shares of company stock valued at $15,534,465 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. Merit Financial Group LLC grew its holdings in shares of PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 276 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in PBF Energy by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 348 shares during the period. Arizona State Retirement System lifted its position in PBF Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after purchasing an additional 353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after buying an additional 432 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 440 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of NYSE PBF opened at $26.15 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average price is $32.95 and its two-hundred day moving average price is $28.48. The company has a market cap of $3.03 billion, a PE ratio of -5.62 and a beta of 0.42. PBF Energy has a twelve month low of $13.61 and a twelve month high of $41.47.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.50) EPS. On average, analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.2%. PBF Energy’s dividend payout ratio (DPR) is currently -23.66%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.