Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $36.46

PBF Energy Inc. (NYSE:PBF) has received a consensus rating of “Reduce” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment 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 price objective among brokerages that have issued a report on the stock in the last year is $36.4615.

A number of analysts have issued reports on the company. Citigroup raised their target price on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. TD Cowen reduced their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, April 27th. Mizuho lifted their target price on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th.

Insiders Place Their Bets

In other PBF Energy news, SVP James E. Fedena sold 77,085 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total transaction of $3,823,416.00. Following the transaction, the senior vice president directly owned 139,016 shares in the company, valued at $6,895,193.60. This represents a 35.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Nimbley sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total transaction of $2,531,000.00. Following the sale, the director directly owned 790,716 shares in the company, valued at approximately $40,026,043.92. The trade was a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,663,085 shares of company stock worth $76,012,206 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently added to or reduced their stakes in the business. 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 valued at $171,595,000 after purchasing an additional 3,550,820 shares in the last quarter. State Street Corp boosted its holdings in PBF Energy by 1.3% in the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after purchasing an additional 60,294 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after buying an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership grew its position in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares during the period. Finally, Invesco Ltd. grew its position in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Up 0.0%

Shares of NYSE PBF opened at $43.13 on Monday. The company’s 50-day simple moving average is $40.99 and its 200-day simple moving average is $37.82. PBF Energy has a 52-week low of $20.98 and a 52-week high of $52.18. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.14 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 announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the business earned ($3.53) EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts predict that PBF Energy will post 7.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

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