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

Shares of PBF Energy Inc. (NYSE:PBF) have been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Six equities research 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 brokerages that have updated their coverage on the stock in the last year is $29.55.

A number of equities analysts have recently weighed in on PBF shares. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group lowered their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lowered their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and lowered their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th.

PBF Energy Price Performance

PBF Energy stock opened at $20.13 on Tuesday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60. PBF Energy has a 52-week low of $19.95 and a 52-week high of $62.88. The stock’s 50 day moving average price is $26.94 and its two-hundred day moving average price is $29.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion for 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%. On average, equities analysts predict that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy’s payout ratio is currently -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 341,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $26.86 per share, with a total value of $9,172,690.00. Following the transaction, the insider now directly owns 28,814,998 shares in the company, valued at $773,970,846.28. This trade represents a 1.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders purchased 1,207,500 shares of company stock valued at $34,557,290. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Fortitude Family Office LLC increased its position 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 valued at $31,000 after purchasing an additional 1,056 shares during the last quarter. Quarry LP bought a new position in shares of PBF Energy during the 3rd quarter worth $48,000. Harbor Capital Advisors Inc. bought a new position in shares of PBF Energy during the 3rd quarter worth $59,000. Golden State Wealth Management LLC bought a new position in shares of PBF Energy during the 4th quarter worth $61,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.