PBF Energy Inc. (NYSE:PBF) Given Average Rating of “Reduce” by Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have earned a consensus recommendation of “Reduce” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $26.3846.

PBF has been the topic of several research analyst reports. Citigroup boosted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their price target on PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Piper Sandler raised their price target on shares of PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. Morgan Stanley boosted their price target on PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, UBS Group upped their target price on PBF Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday.

PBF Energy Trading Up 1.4%

PBF Energy stock opened at $32.19 on Friday. PBF Energy has a 52-week low of $13.61 and a 52-week high of $34.22. The business has a 50-day simple moving average of $25.84 and a two-hundred day simple moving average of $22.00. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.72 billion, a P/E ratio of -3.75 and a beta of 0.98.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.PBF Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.54) EPS. Analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.275 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.4%. PBF Energy’s dividend payout ratio is -12.81%.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after purchasing an additional 3,612,447 shares in the last quarter. AQR Capital Management LLC lifted its stake in PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 1,454,500 shares in the last quarter. Norges Bank acquired a new stake in shares of PBF Energy during the second quarter worth about $24,599,000. BNP Paribas Financial Markets boosted its holdings in PBF Energy by 276.2% in the second quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after purchasing an additional 755,310 shares during the period. Finally, Nuveen LLC acquired a new position in PBF Energy during the 1st quarter worth approximately $13,600,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.