Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $29.55

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Reduce” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $29.55.

PBF has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group decreased their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. UBS Group decreased their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company decreased their price objective on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th.

PBF Energy Stock Performance

Shares of PBF opened at $20.97 on Tuesday. The firm has a market cap of $2.42 billion, a PE ratio of -4.45 and a beta of 1.60. The stock’s fifty day moving average price is $26.64 and its two-hundred day moving average price is $29.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. 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 the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, equities research analysts forecast that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.25%. PBF Energy’s dividend payout ratio is currently -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 155,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the acquisition, the insider now owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This trade represents a 0.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 1,062,500 shares of company stock worth $28,442,290 in the last ninety days. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of PBF Energy by 2,119.6% in 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 purchasing an additional 392,776 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of PBF Energy in the 3rd quarter worth about $2,404,000. Intech Investment Management LLC boosted its holdings in PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after acquiring an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after acquiring an additional 18,173 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after acquiring an additional 26,952 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.