PBF Energy Inc. (NYSE:PBF) Receives Average Recommendation of “Hold” from Brokerages

PBF Energy Inc. (NYSE:PBF) has earned an average recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $57.91.

Several equities research analysts recently weighed in on PBF shares. Wells Fargo & Company increased their price target on PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler increased their price target on PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $74.00 in a report on Friday, March 15th. Finally, Citigroup initiated coverage on PBF Energy in a report on Wednesday, January 24th. They issued a “neutral” rating for the company.

PBF Energy Price Performance

PBF stock opened at $51.02 on Wednesday. The company has a market capitalization of $6.10 billion, a P/E ratio of 3.53 and a beta of 1.73. PBF Energy has a twelve month low of $32.24 and a twelve month high of $62.88. The business has a 50 day simple moving average of $55.20 and a 200-day simple moving average of $48.99. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 4.95% and a return on equity of 18.49%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.65 billion. During the same period in the previous year, the company posted $4.41 earnings per share. PBF Energy’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that PBF Energy will post 7.75 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, May 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Activity

In related news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,829,813.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,829,813.66. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $10,074,600 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

A number of hedge funds have recently bought and sold shares of PBF. GAMMA Investing LLC boosted its position in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new position in PBF Energy during the first quarter worth approximately $27,000. Creekmur Asset Management LLC purchased a new position in PBF Energy during the fourth quarter worth approximately $29,000. Fifth Third Bancorp raised its stake in PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in PBF Energy during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.