PBF Energy Inc. (NYSE:PBF) Receives Consensus Rating of “Hold” from Brokerages

PBF Energy Inc. (NYSE:PBF) has received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $57.55.

Several brokerages have commented on PBF. Scotiabank raised their price target on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday. StockNews.com cut PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $74.00 in a report on Friday, March 15th. Piper Sandler boosted their price objective on PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, TD Cowen upped their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 770,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were bought at an average price of $42.95 per share, for a total transaction of $33,071,500.00. Following the transaction, the insider now directly owns 13,832,998 shares in the company, valued at $594,127,264.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Control Empresarial De Capital bought 770,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was bought at an average price of $42.95 per share, with a total value of $33,071,500.00. Following the purchase, the insider now owns 13,832,998 shares in the company, valued at approximately $594,127,264.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $10,074,600 over the last ninety days. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares during the period. Rise Advisors LLC purchased a new stake in shares of PBF Energy during the first quarter worth about $27,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy in the fourth quarter worth about $29,000. Fifth Third Bancorp increased its holdings in PBF Energy by 39.8% during the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC bought a new position in PBF Energy during the 4th quarter valued at approximately $44,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Down 0.6 %

Shares of NYSE PBF opened at $59.71 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market cap of $7.14 billion, a P/E ratio of 3.63 and a beta of 1.73. PBF Energy has a 52 week low of $31.25 and a 52 week high of $62.88. The business has a 50-day simple moving average of $53.35 and a two-hundred day simple moving average of $48.25.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. PBF Energy’s revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.41 earnings per share. Research analysts anticipate that PBF Energy will post 6.35 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio is currently 6.08%.

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.