PBF Energy Inc. (NYSE:PBF) Receives Average Rating of “Strong Sell” from Analysts

PBF Energy Inc. (NYSE:PBF) has received an average recommendation of “Strong Sell” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $28.9167.

A number of research firms recently issued reports on PBF. UBS Group boosted their price objective on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Scotiabank raised their target price on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Cowen restated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Bank of America boosted their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $33.76 on Thursday. The company has a market cap of $3.91 billion, a PE ratio of -7.26 and a beta of 0.42. PBF Energy has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The firm has a 50-day simple moving average of $33.34 and a 200 day simple moving average of $27.34. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. PBF Energy’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted ($1.50) earnings per share. On average, sell-side analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a dividend of $0.275 per share. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.3%. PBF Energy’s payout ratio is currently -23.66%.

Insiders Place Their Bets

In other news, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total value of $1,822,000.00. Following the completion of the transaction, the senior vice president owned 200,744 shares of the company’s stock, valued at approximately $7,315,111.36. This represents a 19.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Nimbley sold 250,000 shares of PBF Energy stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the sale, the director owned 790,716 shares in the company, valued at approximately $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 507,045 shares of company stock worth $18,193,421. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after buying an additional 589 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,248 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PBF Energy during the first quarter valued at approximately $35,000. Deseret Mutual Benefit Administrators raised its holdings in PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Finally, Activest Wealth Management lifted its position in 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 worth $38,000 after purchasing an additional 1,999 shares during the period. Institutional investors 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.