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

PBF Energy Inc. (NYSE:PBF) has been given a consensus rating of “Reduce” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.18.

PBF has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. TD Cowen lowered their target price on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company dropped their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group dropped their price objective on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, October 4th.

PBF Energy Stock Performance

Shares of PBF stock opened at $31.99 on Friday. PBF Energy has a 52 week low of $27.94 and a 52 week high of $62.88. The firm has a 50 day moving average of $31.57 and a two-hundred day moving average of $37.81. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.68 billion, a PE ratio of -12.35 and a beta of 1.56.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.61 earnings per share. On average, research analysts predict that PBF Energy will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.44%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is currently -42.47%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 805,300 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the transaction, the insider now directly owns 20,634,898 shares in the company, valued at approximately $673,110,372.76. This represents a 4.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have acquired 4,592,400 shares of company stock valued at $145,300,797. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its position in PBF Energy by 9.3% during the first quarter. Advisors Asset Management Inc. now owns 35,228 shares of the oil and gas company’s stock worth $2,028,000 after buying an additional 2,996 shares during the period. BOKF NA increased its stake in PBF Energy by 77.9% in the 1st quarter. BOKF NA now owns 4,871 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 2,133 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in PBF Energy by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company’s stock worth $10,908,000 after purchasing an additional 11,683 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in PBF Energy by 720.8% during the first quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after purchasing an additional 37,826 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in PBF Energy during the first quarter worth $301,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.