PBF Energy Inc. (NYSE:PBF) Given Average Rating of “Strong Sell” by Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have been assigned an average rating of “Strong Sell” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.9167.

PBF has been the subject of several recent research reports. Bank of America increased their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd. TD Cowen increased their price objective on PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Friday, October 31st. UBS Group raised their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Mizuho boosted their target price on PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Finally, 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 report on Wednesday, October 22nd.

Insiders Place Their Bets

In other news, 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 transaction of $1,900,000.00. Following the sale, the senior vice president owned 192,391 shares in the company, valued at $7,310,858. The trade was a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Trecia M. Canty sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the sale, the senior vice president owned 200,744 shares of the company’s stock, valued at approximately $7,315,111.36. This trade represents a 19.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 507,045 shares of company stock valued at $18,193,421 over the last 90 days. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Cetera Investment Advisers lifted its stake in PBF Energy by 22.5% in the 1st quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company’s stock worth $872,000 after acquiring an additional 8,378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PBF Energy by 9.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,185 shares of the oil and gas company’s stock valued at $538,000 after purchasing an additional 2,514 shares during the period. Federated Hermes Inc. increased its holdings in shares of PBF Energy by 341.4% in the 1st quarter. Federated Hermes Inc. now owns 17,615 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 13,624 shares during the period. US Bancorp DE lifted its position in shares of PBF Energy by 31.0% in the first quarter. US Bancorp DE now owns 7,780 shares of the oil and gas company’s stock worth $149,000 after purchasing an additional 1,839 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of PBF Energy by 54.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 936 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

NYSE:PBF opened at $33.76 on Thursday. 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 $33.34 and its 200 day moving average price is $27.34. PBF Energy has a 52-week low of $13.61 and a 52-week high of $41.47. The firm has a market cap of $3.91 billion, a P/E ratio of -7.26 and a beta of 0.42.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 1.78% and a negative return on equity of 15.88%. PBF Energy’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.50) EPS. As a group, sell-side analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

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

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.