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

Shares of PBF Energy Inc. (NYSE:PBF) have been assigned an average rating of “Reduce” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.1429.

A number of equities research analysts have recently commented on the company. Morgan Stanley set a $27.00 price objective on PBF Energy and gave the company an “underweight” rating in a research report on Friday, October 3rd. Zacks Research lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $31.00 to $38.00 in a research note on Friday, December 12th. TD Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Finally, Piper Sandler set a $41.00 target price on shares of PBF Energy in a report on Monday, January 12th.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $40.83, for a total transaction of $2,041,500.00. Following the completion of the sale, the senior vice president directly owned 205,340 shares in the company, valued at $8,384,032.20. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Steven John Andriola sold 2,579 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $26.19, for a total value of $67,544.01. Following the completion of the transaction, the chief accounting officer owned 17,414 shares in the company, valued at approximately $456,072.66. This trade represents a 12.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 845,624 shares of company stock worth $29,349,545. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

A number of institutional investors have recently modified their holdings of PBF. Invesco Ltd. raised its holdings in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares during the period. AQR Capital Management LLC grew its stake in PBF Energy by 20.1% during the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after buying an additional 418,223 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after acquiring an additional 1,159,628 shares in the last quarter. Private Management Group Inc. raised its stake in shares of PBF Energy by 6.9% in the 2nd quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company’s stock valued at $25,445,000 after acquiring an additional 75,546 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in shares of PBF Energy by 27.1% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,155,303 shares of the oil and gas company’s stock valued at $34,855,000 after acquiring an additional 246,429 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $32.95 on Friday. 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 firm has a market cap of $3.82 billion, a PE ratio of -7.09, a P/E/G ratio of 2.56 and a beta of 0.47. The firm has a 50 day simple moving average of $31.17 and a 200-day simple moving average of $29.39. PBF Energy has a 1-year low of $13.61 and a 1-year high of $41.47.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. The firm had revenue of $7.65 billion during 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 for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.50) EPS. On average, equities analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend 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%.

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.