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

PBF Energy Inc. (NYSE:PBF) has been given a consensus rating of “Reduce” by the fourteen analysts that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.45.

PBF has been the subject of several analyst reports. UBS Group decreased their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. TD Cowen lowered their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Scotiabank decreased their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 46,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $29.70 per share, with a total value of $1,366,200.00. Following the completion of the transaction, the insider now directly owns 29,190,998 shares of the company’s stock, valued at $866,972,640.60. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders bought 567,000 shares of company stock worth $12,845,180. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Van ECK Associates Corp grew its position in shares of PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Canada Pension Plan Investment Board increased its position in PBF Energy by 5.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company’s stock worth $8,929,000 after buying an additional 17,400 shares during the period. Norges Bank acquired a new stake in shares of PBF Energy during the fourth quarter worth $20,896,000. Heartland Advisors Inc. bought a new stake in shares of PBF Energy in the fourth quarter valued at about $1,420,000. Finally, Raymond James Financial Inc. bought a new position in PBF Energy during the fourth quarter worth about $1,654,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 0.8 %

Shares of PBF opened at $17.22 on Wednesday. The business’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $25.54. PBF Energy has a one year low of $13.62 and a one year high of $57.47. The company has a market capitalization of $1.99 billion, a P/E ratio of -3.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last announced its 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 return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, sell-side analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 6.39%. PBF Energy’s dividend payout ratio is presently -23.35%.

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.