PBF Energy Inc. (NYSE:PBF) Given Consensus Rating of “Reduce” by Analysts

PBF Energy Inc. (NYSE:PBF) has earned a consensus recommendation of “Reduce” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $33.09.

PBF has been the subject of a number of research reports. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. The Goldman Sachs Group decreased their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Scotiabank cut their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 265,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was purchased at an average cost of $31.87 per share, for a total transaction of $8,445,550.00. Following the transaction, the insider now owns 23,217,398 shares of the company’s stock, valued at $739,938,474.26. The trade was a 1.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 3,568,100 shares of company stock worth $111,183,331. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the business. National Bank of Canada FI bought a new stake in PBF Energy during the second quarter worth approximately $26,000. Quarry LP bought a new position in shares of PBF Energy during the 3rd quarter valued at approximately $48,000. CWM LLC raised its holdings in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares during the period. Harbor Capital Advisors Inc. bought a new stake in PBF Energy in the third quarter worth $59,000. Finally, Blue Trust Inc. boosted its stake in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

PBF opened at $26.58 on Thursday. PBF Energy has a 12-month low of $26.34 and a 12-month high of $62.88. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -10.26 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $30.95 and a two-hundred day simple moving average of $35.51.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s quarterly revenue was down 21.9% on a year-over-year basis. During the same period last year, the firm posted $6.61 earnings per share. Research analysts predict that PBF Energy will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.275 per share. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.14%. PBF Energy’s dividend payout ratio is currently -42.47%.

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.