Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $32.00

PBF Energy Inc. (NYSE:PBF) has earned an average rating of “Reduce” from the fifteen analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.00.

Several research analysts have weighed in on PBF shares. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Scotiabank lowered their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Bank of America assumed coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th.

PBF Energy Stock Up 1.8 %

PBF Energy stock opened at $31.03 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $29.16 and a two-hundred day moving average of $32.67. PBF Energy has a twelve month low of $24.21 and a twelve month high of $62.88. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.61.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.61 EPS. As a group, research analysts expect that PBF Energy will post -2.95 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was acquired at an average cost of $28.62 per share, with a total value of $2,862,000.00. Following the acquisition, the insider now owns 28,984,998 shares of the company’s stock, valued at approximately $829,550,642.76. This represents a 0.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 2,469,600 shares of company stock valued at $73,932,721. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in PBF Energy in the second quarter worth $26,000. Fortitude Family Office LLC increased its holdings in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the period. Quarry LP bought a new stake in PBF Energy in the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in PBF Energy during the 3rd quarter valued at about $59,000. Finally, Blue Trust Inc. increased its stake in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

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.