PBF Energy Inc. (NYSE:PBF) Receives Consensus Rating of “Reduce” from Brokerages

Shares of PBF Energy Inc. (NYSE:PBFGet Free Report) have earned an average recommendation of “Reduce” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $32.00.

PBF has been the topic of several analyst reports. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and cut their target price for the company from $47.00 to $25.00 in a research report on Friday, September 20th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Bank of America initiated coverage on shares of PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. Morgan Stanley dropped their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th.

View Our Latest Research Report on PBF Energy

Insider Activity

In related news, insider Control Empresarial De Capital purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average price of $31.75 per share, with a total value of $31,750,000.00. Following the completion of the transaction, the insider now owns 24,462,398 shares of the company’s stock, valued at approximately $776,681,136.50. This trade represents a 4.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 3,369,600 shares of company stock worth $102,820,721 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently added to or reduced their stakes in PBF. National Bank of Canada FI acquired a new position in PBF Energy in the 2nd quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its stake in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares in the last quarter. Quarry LP bought a new position in shares of PBF Energy in the 3rd quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in PBF Energy in the 3rd quarter worth approximately $59,000. Finally, Blue Trust Inc. boosted its position in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 3.6 %

NYSE:PBF opened at $28.02 on Monday. The company’s 50 day moving average price is $29.12 and its 200-day moving average price is $33.22. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy has a 52 week low of $24.21 and a 52 week high of $62.88. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -10.82 and a beta of 1.61.

PBF Energy (NYSE:PBFGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the company earned $6.61 EPS. The firm’s revenue for the quarter was down 21.9% on a year-over-year basis. On average, equities research analysts forecast that PBF Energy will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.93%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

PBF Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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