Shares of PBF Energy Inc. (NYSE:PBF – Get Free Report) have earned a consensus recommendation of “Reduce” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.09.
PBF has been the topic of several recent research reports. Wolfe Research initiated coverage on PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Scotiabank reduced their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $42.00 to $35.00 in a research note on Friday, October 4th.
Check Out Our Latest Stock Report on PBF
PBF Energy Stock Down 8.0 %
PBF Energy (NYSE:PBF – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts predict that PBF Energy will post -2.27 EPS for the current fiscal year.
PBF Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.44%. PBF Energy’s dividend payout ratio is currently 16.64%.
Insider Activity
In other news, insider Control Empresarial De Capital purchased 307,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $39.22 per share, for a total transaction of $12,040,540.00. Following the completion of the purchase, the insider now owns 18,079,598 shares in the company, valued at approximately $709,081,833.56. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have bought 4,239,400 shares of company stock worth $138,211,387. Company insiders own 6.20% of the company’s stock.
Institutional Investors Weigh In On PBF Energy
Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in PBF Energy by 763.4% during the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares in the last quarter. Acadian Asset Management LLC boosted its position in PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares in the last quarter. Magnetar Financial LLC bought a new stake in PBF Energy during the first quarter valued at about $1,394,000. Inspire Investing LLC bought a new stake in PBF Energy during the first quarter valued at about $905,000. Finally, Public Employees Retirement System of Ohio boosted its position in PBF Energy by 720.8% during the first quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock valued at $2,480,000 after purchasing an additional 37,826 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.
PBF Energy Company Profile
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.
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