Brokerages Set PBF Energy Inc. (NYSE:PBF) Price Target at $34.18

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average rating of “Reduce” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.18.

Several research firms recently issued reports on PBF. Mizuho decreased their price target on PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Morgan Stanley dropped their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Scotiabank cut their price target on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 510,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $33.18 per share, for a total transaction of $16,921,800.00. Following the acquisition, the insider now owns 19,129,598 shares in the company, valued at approximately $634,720,061.64. This trade represents a 2.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 4,649,400 shares of company stock valued at $147,107,697. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PBF. National Bank of Canada FI acquired a new stake in PBF Energy in the 2nd quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of PBF Energy in the third quarter worth $48,000. CWM LLC boosted its holdings in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in PBF Energy in the third quarter valued at $59,000. Finally, Blue Trust Inc. grew its position in PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of PBF stock opened at $31.39 on Friday. PBF Energy has a 1 year low of $27.94 and a 1 year high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $31.44 and its 200-day moving average is $37.39. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -12.12 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm 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 firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted $6.61 EPS. Sell-side analysts forecast that PBF Energy will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced 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 3.50%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio is presently -42.47%.

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.