PBF Energy Inc. (NYSE:PBF) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have been given a consensus rating of “Reduce” by the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.18.

Several research firms recently issued reports on PBF. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Piper Sandler cut their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Mizuho lowered their price target on PBF Energy from $28.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th.

PBF Energy Price Performance

Shares of PBF stock opened at $15.64 on Wednesday. PBF Energy has a 12 month low of $13.62 and a 12 month high of $58.17. The company has a market capitalization of $1.80 billion, a P/E ratio of -3.32 and a beta of 1.15. The stock has a 50 day moving average of $19.28 and a two-hundred day moving average of $26.11. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, equities analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.04%. PBF Energy’s payout ratio is currently -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average cost of $14.44 per share, with a total value of $216,600.00. Following the completion of the purchase, the insider now directly owns 30,774,998 shares in the company, valued at approximately $444,390,971.12. This represents a 0.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 627,000 shares of company stock worth $14,602,580 over the last 90 days. Insiders own 6.70% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in shares of PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Norges Bank acquired a new position in PBF Energy in the fourth quarter valued at about $20,896,000. Heartland Advisors Inc. bought a new position in PBF Energy during the fourth quarter worth about $1,420,000. Raymond James Financial Inc. acquired a new position in shares of PBF Energy during the 4th quarter worth about $1,654,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at about $4,515,000. 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.