PBF Energy Inc. (NYSE:PBF) Given Consensus Rating of “Reduce” by Brokerages

PBF Energy Inc. (NYSE:PBF) has received an average rating of “Reduce” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.18.

A number of research analysts have issued reports on PBF shares. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Scotiabank cut their price objective on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company lifted their price objective on PBF Energy from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday. TD Cowen cut their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Finally, Piper Sandler lowered their target price on PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 2nd.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 110,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $17.40 per share, for a total transaction of $1,914,000.00. Following the transaction, the insider now directly owns 30,696,998 shares in the company, valued at $534,127,765.20. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 224,500 shares of company stock valued at $3,816,695 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Large investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in PBF Energy by 170.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock worth $109,364,000 after purchasing an additional 3,612,447 shares during the period. Norges Bank bought a new position in shares of PBF Energy in the fourth quarter valued at approximately $20,896,000. Nuveen LLC bought a new position in shares of PBF Energy in the first quarter valued at approximately $13,600,000. Deutsche Bank AG lifted its holdings in shares of PBF Energy by 697.2% in the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company’s stock valued at $14,976,000 after purchasing an additional 686,103 shares in the last quarter. Finally, Recurrent Investment Advisors LLC lifted its holdings in shares of PBF Energy by 154.0% in the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company’s stock valued at $25,096,000 after purchasing an additional 573,161 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 4.7%

Shares of PBF Energy stock opened at $21.18 on Thursday. The company’s fifty day simple moving average is $18.15 and its 200-day simple moving average is $23.15. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -4.50 and a beta of 0.82. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy has a 1 year low of $13.62 and a 1 year high of $48.20.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. PBF Energy’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. As a group, sell-side analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Thursday, May 15th. PBF Energy’s dividend payout ratio is -12.09%.

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.