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

PBF Energy Inc. (NYSE:PBF) has earned an average rating of “Reduce” from the fifteen research firms that are presently 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 twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.45.

PBF has been the subject of several recent analyst reports. Scotiabank cut their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Morgan Stanley cut their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital bought 40,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the transaction, the insider now owns 23,407,398 shares in the company, valued at $723,990,820.14. The trade was a 0.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 3,394,600 shares of company stock worth $103,965,471 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of PBF Energy during the 2nd quarter worth approximately $26,000. Quarry LP bought a new stake in PBF Energy during the third quarter worth $48,000. CWM LLC boosted its holdings in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of PBF Energy in the 3rd quarter valued at $59,000. Finally, Blue Trust Inc. raised its holdings in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Up 1.0 %

Shares of PBF stock opened at $25.40 on Thursday. The firm’s fifty day moving average price is $30.63 and its two-hundred day moving average price is $35.16. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88. 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 firm has a market capitalization of $2.92 billion, a P/E ratio of -9.81 and a beta of 1.57.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $6.61 EPS. PBF Energy’s revenue was down 21.9% compared to the same quarter last year. On average, equities analysts predict that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 4.33%. PBF Energy’s dividend payout ratio is -42.47%.

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.