PBF Energy Inc. (NYSE:PBF) Receives $30.21 Average Target Price from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average rating of “Reduce” from the sixteen research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $30.2143.

Several equities analysts recently commented on PBF shares. Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Piper Sandler raised their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 13th. BMO Capital Markets reiterated a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Finally, UBS Group raised their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $36.79, for a total value of $110,370.00. Following the transaction, the insider directly owned 28,440,198 shares of the company’s stock, valued at $1,046,314,884.42. This represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 2,385,879 shares of company stock worth $82,719,180. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after purchasing an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PBF Energy by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after purchasing an additional 12,289 shares in the last quarter. Acadian Asset Management LLC grew its stake in PBF Energy by 261.0% in the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in PBF Energy by 21.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,310 shares of the oil and gas company’s stock valued at $440,000 after buying an additional 3,631 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 0.4%

Shares of PBF Energy stock opened at $34.23 on Tuesday. PBF Energy has a twelve month low of $13.61 and a twelve month high of $41.47. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -23.28, a price-to-earnings-growth ratio of 4.61 and a beta of 0.50. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $31.12 and a 200 day moving average price of $30.90.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm posted ($2.82) earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

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.