PBF Energy Inc. (NYSE:PBF) Receives $34.18 Average PT from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average rating of “Reduce” by the fifteen analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $34.18.

Several brokerages have recently weighed in on PBF. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Mizuho dropped their price objective on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Finally, Morgan Stanley dropped their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th.

PBF Energy Stock Down 0.7 %

PBF opened at $31.56 on Friday. The company has a market cap of $3.63 billion, a PE ratio of -12.18 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a 1 year low of $27.94 and a 1 year high of $62.88. The firm has a 50 day moving average price of $31.53 and a 200 day moving average price of $37.48.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $6.61 EPS. The business’s revenue was down 21.9% compared to the same quarter last year. Sell-side analysts expect that PBF Energy will post -2.79 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy’s payout ratio is -42.47%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 805,300 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the acquisition, the insider now owns 20,634,898 shares of the company’s stock, valued at $673,110,372.76. This trade represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 4,592,400 shares of company stock worth $145,300,797 over the last ninety days. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in PBF Energy during the 3rd quarter worth $1,642,000. Neo Ivy Capital Management bought a new stake in shares of PBF Energy in the 3rd quarter worth $2,404,000. Vestcor Inc raised its stake in shares of PBF Energy by 1,513.2% in the 3rd quarter. Vestcor Inc now owns 14,712 shares of the oil and gas company’s stock worth $455,000 after buying an additional 13,800 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of PBF Energy by 108.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company’s stock valued at $1,359,000 after buying an additional 22,852 shares during the period. Finally, XTX Topco Ltd bought a new position in PBF Energy during the third quarter valued at about $1,415,000. 96.29% of the stock is currently owned by institutional investors.

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.