PBF Energy Inc. (NYSE:PBF) Receives Average Rating of “Reduce” from Brokerages

PBF Energy Inc. (NYSE:PBF) has been given a consensus rating of “Reduce” by the sixteen research firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.2143.

A number of analysts recently weighed in on PBF shares. The Goldman Sachs Group upped their target price on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. BMO Capital Markets restated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research report on Monday, January 5th. Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th.

PBF Energy Stock Performance

PBF opened at $34.47 on Tuesday. The stock’s 50 day simple moving average is $30.81 and its 200-day simple moving average is $30.50. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The stock has a market cap of $3.99 billion, a PE ratio of -23.45, a P/E/G ratio of 6.71 and a beta of 0.50. PBF Energy has a 1 year low of $13.61 and a 1 year high of $41.47.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company earned ($2.82) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is currently -74.83%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $36.79, for a total transaction of $110,370.00. Following the completion of the sale, the insider owned 28,440,198 shares of the company’s stock, valued at approximately $1,046,314,884.42. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 2,385,879 shares of company stock worth $82,719,180 over the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of PBF. Goldman Sachs Group Inc. raised its position in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Invesco Ltd. increased its stake in shares of 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 in the last quarter. AQR Capital Management LLC raised its holdings in shares of PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after buying an additional 1,454,500 shares during the last quarter. Norges Bank bought a new position in shares of PBF Energy in the fourth quarter valued at about $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after buying an additional 1,159,628 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.