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

PBF Energy Inc. (NYSE:PBF) has been given an average rating of “Reduce” by the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $36.09.

PBF has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company dropped their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research initiated coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley dropped their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $42.00 to $35.00 in a research report on Friday, October 4th.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 55,000 shares of PBF Energy stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $30.85 per share, with a total value of $1,696,750.00. Following the purchase, the insider now directly owns 23,462,398 shares in the company, valued at $723,814,978.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired a total of 4,239,400 shares of company stock valued at $138,211,387 in the last three months. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in shares of PBF Energy during the 2nd quarter worth approximately $26,000. CWM LLC raised its stake 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 purchasing an additional 569 shares during the last quarter. Headlands Technologies LLC acquired a new position in PBF Energy in the 1st quarter valued at $82,000. Harbor Capital Advisors Inc. acquired a new position in PBF Energy in the 3rd quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC raised its stake in PBF Energy by 152.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,252 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of NYSE PBF opened at $29.07 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company has a market cap of $3.41 billion, a PE ratio of 4.84 and a beta of 1.55. The business has a 50-day simple moving average of $32.49 and a two-hundred day simple moving average of $40.86. PBF Energy has a fifty-two week low of $28.92 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. PBF Energy’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 EPS. As a group, equities analysts expect that PBF Energy will post -2.27 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, August 15th. PBF Energy’s payout ratio is 16.64%.

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.