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

PBF Energy Inc. (NYSE:PBF) has earned a consensus recommendation of “Reduce” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.2143.

Several equities analysts have recently issued reports on the company. Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. TD Cowen restated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $31.00 to $38.00 in a research note on Friday, December 12th. The Goldman Sachs Group boosted their price target on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler raised their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $36.79, for a total value of $110,370.00. Following the completion of the sale, the insider owned 28,440,198 shares in the company, valued at approximately $1,046,314,884.42. This represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 2,385,879 shares of company stock worth $82,719,180 over the last ninety days. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently modified their holdings of PBF. Smartleaf Asset Management LLC increased its stake in shares of PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 589 shares during the last quarter. Torren Management LLC acquired a new position in PBF Energy during the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new stake in PBF Energy in the fourth quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators raised its holdings in PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Price Performance

PBF opened at $34.47 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The stock has a market capitalization of $3.99 billion, a P/E ratio of -23.45, a price-to-earnings-growth ratio of 6.71 and a beta of 0.50. The company’s 50 day simple moving average is $30.81 and its 200-day simple moving average is $30.50. PBF Energy has a one year low of $13.61 and a one year high of $41.47.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.64. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.82) EPS. Sell-side analysts anticipate that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is currently -74.83%.

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.