PBF Energy Inc. (NYSE:PBF) Receives $33.09 Consensus Target Price from Analysts

by · The Markets Daily

Shares of PBF Energy Inc. (NYSE:PBF – Get Free Report) have been assigned a consensus rating of “Reduce” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.45.

Several research analysts recently commented on PBF shares. Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $47.00 to $25.00 in a report on Friday, September 20th. The Goldman Sachs Group lowered their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. Finally, Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $33.00 to $31.00 in a research note on Monday, December 16th.

Read Our Latest Report on PBF

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 341,500 shares of PBF Energy stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $26.86 per share, with a total value of $9,172,690.00. Following the completion of the acquisition, the insider now owns 28,814,998 shares of the company’s stock, valued at approximately $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 3,354,600 shares of company stock valued at $102,728,271 over the last quarter. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new position in shares of PBF Energy in the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of PBF Energy during the third quarter worth $48,000. CWM LLC grew its position in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PBF Energy in the 3rd quarter valued at $59,000. Finally, Blue Trust Inc. raised its position in PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Up 1.0 %

NYSE PBF opened at $25.66 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -9.91 and a beta of 1.57. The firm has a 50 day simple moving average of $30.37 and a 200-day simple moving average of $34.86. PBF Energy has a one year low of $24.21 and a one year high of $62.88.

PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly 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). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business earned $6.61 EPS. The business’s quarterly revenue was down 21.9% on a year-over-year basis. Equities research analysts anticipate that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

About PBF Energy

(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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