PBF Energy Inc. (NYSE:PBF) Receives $38.50 Consensus PT from Brokerages

PBF Energy Inc. (NYSE:PBF) has been assigned a consensus rating of “Reduce” from the sixteen research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.00.

PBF has been the topic of several research analyst reports. Zacks Research downgraded PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank lifted their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Citigroup upped their price target on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th.

PBF Energy Stock Down 0.2%

Shares of NYSE:PBF opened at $62.63 on Friday. PBF Energy has a 1 year low of $21.24 and a 1 year high of $63.60. The business has a 50 day simple moving average of $44.49 and a two-hundred day simple moving average of $40.46. The firm has a market capitalization of $7.41 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the company posted ($3.53) EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that PBF Energy will post 9.76 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio is currently 29.65%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 3,541,570 shares of company stock valued at $165,787,386. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

A number of large investors have recently modified their holdings of PBF. Torren Management LLC bought a new stake in PBF Energy during the 4th quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy in the 4th quarter worth $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy in the 1st quarter worth $33,000. Smartleaf Asset Management LLC grew its position in shares of PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after buying an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of PBF Energy during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.