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

Shares of PBF Energy Inc. (NYSE:PBF) have earned a consensus recommendation of “Reduce” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.36.

A number of equities research analysts recently weighed in on PBF shares. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $20.84 on Tuesday. The firm has a market cap of $2.40 billion, a PE ratio of -4.42 and a beta of 1.62. The firm’s 50-day simple moving average is $26.46 and its 200-day simple moving average is $29.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy has a 1 year low of $18.97 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Equities analysts forecast that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 70,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now directly owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 1,062,500 shares of company stock worth $28,442,290 over the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBF. Van ECK Associates Corp boosted its stake in shares of PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after acquiring an additional 392,776 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of PBF Energy in the 3rd quarter worth $2,404,000. Intech Investment Management LLC grew its holdings in shares of PBF Energy by 165.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after acquiring an additional 28,770 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after acquiring an additional 18,173 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of PBF Energy by 40.5% in the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after acquiring an additional 26,952 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

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.