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

PBF Energy Inc. (NYSE:PBF) has been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.55.

Several brokerages recently issued reports on PBF. Piper Sandler reduced their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. UBS Group lowered their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th.

PBF Energy Stock Up 1.5 %

Shares of NYSE PBF opened at $19.54 on Friday. The company has a market capitalization of $2.25 billion, a P/E ratio of -4.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a 50 day simple moving average of $23.61 and a 200-day simple moving average of $27.95. PBF Energy has a 1 year low of $18.20 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last posted 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). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. On average, equities research analysts predict that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.63%. PBF Energy’s payout ratio is -23.35%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were acquired at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the acquisition, the insider now owns 28,984,998 shares in the company, valued at $829,550,642.76. The trade was a 0.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 671,000 shares of company stock worth $17,862,200 over the last 90 days. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in PBF. Van ECK Associates Corp lifted its position 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 buying an additional 392,776 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in PBF Energy in the third quarter valued at $2,404,000. Heartland Advisors Inc. purchased a new position in shares of PBF Energy during the fourth quarter worth about $1,420,000. Wealthfront Advisers LLC acquired a new stake in shares of PBF Energy during the fourth quarter worth about $4,515,000. Finally, Bridgewater Associates LP lifted 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 valued at $2,896,000 after purchasing an additional 26,952 shares during the last quarter. Hedge funds and other institutional investors 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.