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

PBF Energy Inc. (NYSE:PBF) has received an average rating of “Reduce” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.4615.

A number of brokerages have recently issued reports on PBF. Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. TD Cowen decreased their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a report on Monday, April 27th. Mizuho boosted their target price on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Citigroup upped their price target on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets upped their price target on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd.

PBF Energy Stock Up 0.1%

Shares of NYSE PBF opened at $37.34 on Monday. PBF Energy has a 52-week low of $20.98 and a 52-week high of $52.18. The firm has a fifty day moving average of $40.90 and a 200-day moving average of $37.54. The stock has a market capitalization of $4.42 billion, a PE ratio of 10.07, a P/E/G ratio of 0.12 and a beta of 0.12. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the previous year, the firm posted ($3.53) EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that PBF Energy will post 7.69 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio is 29.65%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 100,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $43.17, for a total transaction of $4,317,000.00. Following the completion of the sale, the insider directly owned 18,117,698 shares of the company’s stock, valued at approximately $782,141,022.66. This represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Fedena sold 77,085 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the completion of the transaction, the senior vice president owned 139,016 shares of the company’s stock, valued at approximately $6,895,193.60. This represents a 35.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,324,225 shares of company stock valued at $209,012,411. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Goldman Sachs Group Inc. boosted its holdings in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the period. Invesco Ltd. boosted its holdings in PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC boosted its holdings in PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares during the period. Norges Bank purchased a new position in PBF Energy in the 4th quarter worth approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after acquiring an additional 1,159,628 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.