PBF Energy Inc. (NYSE:PBF) Given Average Rating of “Reduce” by Brokerages

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Reduce” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $30.1429.

A number of research analysts have recently commented on the stock. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an “underweight” rating in a research report on Friday, October 3rd. Piper Sandler set a $41.00 price objective on shares of PBF Energy in a report on Monday, January 12th. TD Cowen reissued a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. UBS Group lifted their target price on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Zacks Research cut PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 260,000 shares of PBF Energy stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $33.17, for a total value of $8,624,200.00. Following the completion of the sale, the insider owned 30,407,498 shares in the company, valued at approximately $1,008,616,708.66. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Steven John Andriola sold 2,579 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 17,414 shares in the company, valued at $456,072.66. This represents a 12.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 845,624 shares of company stock valued at $29,349,545. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of PBF Energy during the 3rd quarter valued at approximately $41,000. Finally, UMB Bank n.a. raised its position in shares of PBF Energy by 67.2% during the 2nd quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 801 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE PBF opened at $32.95 on Friday. PBF Energy has a 1-year low of $13.61 and a 1-year high of $41.47. The business has a 50-day moving average of $31.17 and a 200-day moving average of $29.39. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.09, a PEG ratio of 2.56 and a beta of 0.47.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion for 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 company’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the business posted ($1.50) EPS. On average, equities analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s dividend payout ratio is presently -23.66%.

About PBF Energy

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.