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

Shares of PBF Energy Inc. (NYSE:PBF) have received an average recommendation of “Reduce” from the fifteen analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.4615.

PBF has been the subject of a number of research analyst reports. Citigroup raised their price target on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group initiated coverage on PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price on the stock. BMO Capital Markets lifted their target price on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Wall Street Zen raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, TD Cowen cut their price target on shares of PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a report on Monday, April 27th.

Insider Buying and Selling

In related news, SVP James E. Fedena sold 77,085 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the transaction, the senior vice president owned 139,016 shares of the company’s stock, valued at $6,895,193.60. This represents a 35.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital sold 362,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total value of $15,747,000.00. Following the transaction, the insider owned 18,891,698 shares in the company, valued at $821,788,863. The trade was a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,767,026 shares of company stock worth $81,337,598. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 242 shares in the last quarter. Bull Harbor Capital LLC purchased a new position in PBF Energy during the 1st quarter valued at about $212,000. Amundi purchased a new position in PBF Energy during the 1st quarter valued at about $1,574,000. EverSource Wealth Advisors LLC raised its holdings in shares of PBF Energy by 24.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 931 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of PBF Energy by 23.6% in the 1st quarter. California State Teachers Retirement System now owns 101,282 shares of the oil and gas company’s stock worth $4,823,000 after purchasing an additional 19,354 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $43.13 on Monday. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.14 and a beta of 0.12. PBF Energy has a 12 month low of $20.98 and a 12 month high of $52.18. The firm’s 50-day moving average is $40.99 and its 200 day moving average is $37.78. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned ($3.53) EPS. Research analysts predict that PBF Energy will post 7.69 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio is currently 29.65%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.