PBF Energy Inc. (NYSE:PBF) Receives $53.42 Average PT from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have received an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $53.4167.

A number of brokerages have recently issued reports on PBF. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. UBS Group raised their target price on shares of PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. Finally, Evercore assumed coverage on shares of PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target on the stock.

PBF Energy Stock Down 0.3%

Shares of NYSE:PBF opened at $76.50 on Friday. The firm has a fifty day moving average price of $65.74 and a two-hundred day moving average price of $50.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. PBF Energy has a one year low of $25.62 and a one year high of $77.98. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 0.09 and a beta of 0.09.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.03) earnings per share. Analysts anticipate that PBF Energy will post 15.74 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Insider Transactions at PBF Energy

In other news, Director Thomas Nimbley sold 116,008 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director directly owned 793,737 shares in the company, valued at approximately $58,522,229.01. This represents a 12.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Lucey sold 142,364 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $73.50, for a total value of $10,463,754.00. Following the transaction, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $36,439,168.50. This represents a 22.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,912,674 shares of company stock worth $364,154,134. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its stake in shares of PBF Energy by 128.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,631 shares of the oil and gas company’s stock valued at $484,000 after acquiring an additional 5,969 shares during the last quarter. Engineers Gate Manager LP grew its position in PBF Energy by 90.4% during the 2nd quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock worth $2,887,000 after acquiring an additional 30,117 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in PBF Energy by 76.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 8,632 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 3,728 shares during the last quarter. IFP Advisors Inc increased its stake in PBF Energy by 68.7% in the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 591 shares during the period. Finally, Allworth Financial LP increased its stake in PBF Energy by 166.2% in the 2nd quarter. Allworth Financial LP now owns 6,888 shares of the oil and gas company’s stock worth $314,000 after purchasing an additional 4,300 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.