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

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 company, Marketbeat reports. Six analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.91.

Several equities research analysts have commented on the company. TD Cowen cut their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. Scotiabank dropped their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Mizuho raised their price target on PBF Energy from $22.00 to $23.00 and gave the company an “underperform” rating in a research note on Tuesday, May 13th. Morgan Stanley lowered their price target on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price objective on PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, May 2nd.

PBF Energy Stock Down 0.2%

Shares of PBF Energy stock opened at $22.35 on Friday. The business has a fifty day simple moving average of $18.15 and a 200 day simple moving average of $24.44. The stock has a market cap of $2.58 billion, a PE ratio of -4.74 and a beta of 0.76. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy has a 12 month low of $13.62 and a 12 month high of $51.47.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Research analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Thursday, May 15th. PBF Energy’s dividend payout ratio is presently -12.09%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 155,000 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the transaction, the insider now directly owns 30,249,998 shares of the company’s stock, valued at approximately $611,049,959.60. This represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders purchased 331,000 shares of company stock valued at $6,075,180. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of the business. Fifth Third Bancorp raised its stake in PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP increased its holdings in shares of PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PBF Energy in the first quarter valued at approximately $35,000. Neo Ivy Capital Management bought a new stake in shares of PBF Energy in the first quarter valued at approximately $37,000. Finally, Activest Wealth Management boosted its stake in shares of PBF Energy by 199,900.0% in the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 1,999 shares during the period. 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.