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

Shares of PBF Energy Inc. (NYSE:PBF) have received an average rating of “Reduce” from the fourteen brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $29.36.

A number of brokerages have recently issued reports on PBF. The Goldman Sachs Group cut their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Piper Sandler lowered their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Monday, December 16th.

PBF Energy Trading Up 1.2 %

Shares of NYSE:PBF opened at $21.26 on Tuesday. PBF Energy has a 12-month low of $18.97 and a 12-month high of $62.88. The business’s fifty day simple moving average is $26.55 and its 200-day simple moving average is $29.55. The company has a market capitalization of $2.45 billion, a PE ratio of -4.51 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. As a group, equities research analysts predict that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.17%. PBF Energy’s dividend payout ratio is currently -23.35%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 70,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the acquisition, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. This represents a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders bought 1,062,500 shares of company stock valued at $28,442,290. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the period. Quarry LP acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $59,000. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

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.