PBF Energy Inc. (NYSE:PBF) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have received an average recommendation of “Reduce” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $36.1538.

PBF has been the subject of several analyst reports. Scotiabank upped their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Piper Sandler lifted their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Tudor Pickering raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Finally, Mizuho upped their price target on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider directly owned 22,996,898 shares in the company, valued at approximately $1,062,686,656.58. This represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 8,091,425 shares of company stock worth $378,831,009. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 242 shares in the last quarter. Bull Harbor Capital LLC acquired a new position in PBF Energy during the 1st quarter worth about $212,000. Amundi acquired a new position in PBF Energy during the 1st quarter worth about $1,574,000. EverSource Wealth Advisors LLC lifted its stake in PBF Energy by 24.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 931 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in PBF Energy by 23.6% during the 1st quarter. California State Teachers Retirement System now owns 101,282 shares of the oil and gas company’s stock worth $4,823,000 after acquiring an additional 19,354 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Down 1.3%

Shares of PBF opened at $42.59 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy has a one year low of $17.53 and a one year high of $52.18. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.16 and a beta of 0.12. The stock has a 50 day moving average price of $42.62 and a 200 day moving average price of $37.15.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($3.53) earnings per share. Equities research analysts forecast that PBF Energy will post 6.7 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. PBF Energy’s dividend payout ratio is currently 29.65%.

PBF Energy Company Profile

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.