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

Shares of PBF Energy Inc. (NYSE:PBF) have received an average rating of “Reduce” from the sixteen research firms that are covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $29.3846.

PBF has been the subject of several research analyst reports. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Monday, December 8th. UBS Group upped their target price on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Scotiabank increased their target price on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $31.00 to $38.00 in a report on Friday, December 12th. Finally, Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th.

PBF Energy Stock Down 1.4%

Shares of PBF Energy stock opened at $26.15 on Monday. The company has a market capitalization of $3.03 billion, a P/E ratio of -5.62 and a beta of 0.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The business has a 50-day moving average of $32.95 and a two-hundred day moving average of $28.48. PBF Energy has a 1 year low of $13.61 and a 1 year high of $41.47.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same period in the previous year, the firm earned ($1.50) EPS. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a yield of 4.2%. PBF Energy’s dividend payout ratio is presently -23.66%.

Insiders Place Their Bets

In other PBF Energy news, CAO Steven John Andriola sold 2,579 shares of PBF Energy stock in a transaction on Friday, December 19th. The shares were sold at an average price of $26.19, for a total value of $67,544.01. Following the sale, the chief accounting officer directly owned 17,414 shares in the company, valued at approximately $456,072.66. The trade was a 12.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Nimbley sold 250,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the transaction, the director owned 790,716 shares of the company’s stock, valued at approximately $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 429,624 shares of company stock valued at $15,534,465 in the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PBF. Merit Financial Group LLC raised its stake in shares of PBF Energy by 3.0% during the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 276 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in PBF Energy by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock worth $478,000 after buying an additional 348 shares during the last quarter. Arizona State Retirement System raised its position in PBF Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after acquiring an additional 353 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PBF Energy by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 432 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares during the period. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.