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

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average recommendation of “Reduce” by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.91.

PBF has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on PBF Energy from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. Scotiabank cut 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. TD Cowen cut their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $20.32 on Friday. PBF Energy has a one year low of $13.62 and a one year high of $49.87. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The business’s 50 day moving average price is $18.14 and its 200 day moving average price is $24.16.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping analysts’ consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was down 18.3% compared to the same quarter last year. On average, research analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.41%. PBF Energy’s payout ratio is presently -12.09%.

Insider Activity

In related news, insider Control Empresarial De Capital bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $13.98 per share, for a total transaction of $209,700.00. Following the completion of the acquisition, the insider now owns 30,757,998 shares in the company, valued at approximately $429,996,812.04. This trade represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 331,000 shares of company stock valued at $6,075,180. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 803 shares during the period. Allworth Financial LP boosted its holdings in PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PBF Energy during the 1st quarter worth about $35,000. Neo Ivy Capital Management purchased a new stake in PBF Energy during the 1st quarter worth about $37,000. Finally, Activest Wealth Management lifted its holdings in PBF Energy by 199,900.0% during the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock worth $38,000 after buying an additional 1,999 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.