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

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Reduce” from the fifteen analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $32.45.

PBF has been the topic of several research reports. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $25.00 in a report on Friday, September 20th. Scotiabank lowered their price objective on shares of 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. 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 report on Monday, September 16th. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 265,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $31.87 per share, with a total value of $8,445,550.00. Following the completion of the purchase, the insider now directly owns 23,217,398 shares in the company, valued at approximately $739,938,474.26. This trade represents a 1.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 3,659,600 shares of company stock valued at $112,411,021 in the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in PBF Energy by 108.6% in the second 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 period. Spirit of America Management Corp NY boosted its holdings in PBF Energy by 25.1% in the 2nd quarter. Spirit of America Management Corp NY now owns 59,750 shares of the oil and gas company’s stock worth $2,750,000 after acquiring an additional 12,000 shares during the period. Highland Capital Management LLC grew its position in PBF Energy by 14.2% in the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 546 shares in the last quarter. Bailard Inc. purchased a new stake in shares of PBF Energy during the second quarter valued at approximately $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PBF Energy by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,662 shares of the oil and gas company’s stock valued at $1,135,000 after purchasing an additional 2,638 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Down 1.2 %

Shares of NYSE PBF opened at $25.15 on Thursday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -9.71 and a beta of 1.57. PBF Energy has a 52 week low of $24.21 and a 52 week high of $62.88. The firm has a 50-day moving average price of $30.63 and a 200 day moving average price of $35.23. 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 (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.61 earnings per share. Equities research analysts anticipate that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 4.37%. PBF Energy’s payout ratio is -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.