PBF Energy Inc. (NYSE:PBF) Given Average Rating of “Hold” by Brokerages

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

PBF has been the subject of a number of research reports. Citigroup initiated coverage on shares of PBF Energy in a research note on Wednesday, January 24th. They set a “neutral” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Wells Fargo & Company boosted their target price on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Piper Sandler upped their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, April 5th.

PBF Energy Trading Down 0.6 %

Shares of PBF Energy stock opened at $57.27 on Friday. The firm has a 50-day simple moving average of $53.75 and a two-hundred day simple moving average of $48.29. The company has a market cap of $6.85 billion, a P/E ratio of 3.48 and a beta of 1.73. PBF Energy has a fifty-two week low of $31.25 and a fifty-two week high of $62.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56.

PBF Energy (NYSE:PBF) last released its earnings results 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 company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.41 EPS. As a group, equities analysts predict that PBF Energy will post 6.06 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a $0.25 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.75%. PBF Energy’s dividend payout ratio (DPR) is 6.08%.

Insider Activity

In other news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital acquired 12,200 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was bought at an average price of $43.86 per share, for a total transaction of $535,092.00. Following the completion of the acquisition, the insider now owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock valued at $10,074,600 in the last 90 days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. lifted its holdings in shares of PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock worth $33,329,000 after acquiring an additional 89,900 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of PBF Energy by 205.0% in the 1st quarter. Sunbelt Securities Inc. now owns 12,104 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 8,135 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in PBF Energy during the 1st quarter worth approximately $286,000. Range Financial Group LLC acquired a new stake in PBF Energy during the 1st quarter worth approximately $294,000. Finally, Abacus Planning Group Inc. acquired a new stake in PBF Energy during the 1st quarter worth approximately $204,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.