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

by · The Markets Daily

PBF Energy Inc. (NYSE:PBF – Get Free Report) has been given a consensus recommendation of “Reduce” by the sixteen research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $43.9231.

Several research firms have weighed in on PBF. TD Cowen boosted their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. BMO Capital Markets upped their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Finally, Freedom Capital upgraded PBF Energy to a “hold” rating in a research report on Tuesday, July 7th.

Check Out Our Latest Analysis on PBF

Insider Activity

In related news, insider Control Empresarial De Capital sold 100,000 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $54.52, for a total value of $5,452,000.00. Following the sale, the insider directly owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 3,541,570 shares of company stock worth $165,787,386. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after purchasing an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after purchasing an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PBF Energy by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock valued at $4,996,000 after purchasing an additional 12,289 shares during the period. Acadian Asset Management LLC raised its position in PBF Energy by 261.0% in the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in PBF Energy during the second quarter worth $1,143,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 3.9%

NYSE PBF opened at $61.83 on Friday. PBF Energy has a 52 week low of $21.24 and a 52 week high of $68.33. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $46.28 and its 200-day simple moving average is $41.49. The firm has a market cap of $7.31 billion, a PE ratio of 16.66, a P/E/G ratio of 0.15 and a beta of 0.11.

PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the company posted ($3.53) EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that PBF Energy will post 10.94 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio is currently 29.65%.

PBF Energy Company Profile

(Get Free Report)

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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