PBF Energy Inc. (NYSE:PBF) Receives Average Recommendation of “Hold” from Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $57.91.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler boosted their target price on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. TD Cowen dropped their price target on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Scotiabank lifted their target price on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th.

PBF Energy Stock Down 1.6 %

Shares of NYSE:PBF opened at $51.02 on Wednesday. The stock has a market capitalization of $6.10 billion, a P/E ratio of 3.53 and a beta of 1.73. The stock’s 50-day moving average price is $55.20 and its 200-day moving average price is $48.99. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. PBF Energy has a 12-month low of $32.24 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 4.95% and a return on equity of 18.49%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the previous year, the firm posted $4.41 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that PBF Energy will post 7.75 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 1.96%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Activity

In related news, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the transaction, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock worth $10,074,600 over the last 90 days. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of PBF Energy during the 1st quarter valued at about $27,000. Creekmur Asset Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter valued at about $29,000. Fifth Third Bancorp lifted its stake in shares of PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of PBF Energy in the fourth quarter worth approximately $44,000. 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.