PBF Energy Inc. (NYSE:PBF) Receives Average Recommendation of “Reduce” from Brokerages

PBF Energy Inc. (NYSE:PBF) has received an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $25.55.

A number of equities analysts have weighed in on PBF shares. UBS Group dropped their price target 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. Morgan Stanley decreased their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, Mizuho dropped their price target on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday.

Insider Activity

In related news, insider Control Empresarial De Capital bought 100,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were purchased at an average price of $28.62 per share, with a total value of $2,862,000.00. Following the transaction, the insider now owns 28,984,998 shares in the company, valued at $829,550,642.76. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 671,000 shares of company stock worth $17,862,200. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of PBF Energy by 30.8% during the 3rd quarter. Citigroup Inc. now owns 158,963 shares of the oil and gas company’s stock worth $4,920,000 after purchasing an additional 37,400 shares during the period. BNP Paribas Financial Markets boosted its position in shares of PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Bridgewater Associates LP grew its stake in shares of PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after buying an additional 26,952 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PBF Energy by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company’s stock worth $782,000 after buying an additional 620 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of PBF Energy by 32.8% during the 3rd quarter. Captrust Financial Advisors now owns 22,273 shares of the oil and gas company’s stock worth $689,000 after acquiring an additional 5,498 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

Shares of PBF Energy stock opened at $14.97 on Friday. The stock’s fifty day moving average is $23.04 and its 200 day moving average is $27.75. PBF Energy has a one year low of $14.11 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock has a market cap of $1.73 billion, a P/E ratio of -3.18 and a beta of 1.62.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Sell-side analysts anticipate that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.35%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

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.