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

PBF Energy Inc. (NYSE:PBF) has received a consensus rating of “Reduce” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $34.18.

Several analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, October 4th. UBS Group lowered their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Mizuho decreased their target price on PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Bank of America initiated coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price target on the stock.

PBF Energy Stock Performance

PBF opened at $31.39 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The company has a market cap of $3.61 billion, a PE ratio of -12.12 and a beta of 1.56. The stock has a 50-day moving average of $31.44 and a 200-day moving average of $37.39. PBF Energy has a 52-week low of $27.94 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the company earned $6.61 EPS. The firm’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, equities research analysts forecast that PBF Energy will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.275 dividend. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.50%. PBF Energy’s dividend payout ratio is currently -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital bought 510,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $33.18 per share, for a total transaction of $16,921,800.00. Following the transaction, the insider now directly owns 19,129,598 shares of the company’s stock, valued at $634,720,061.64. This represents a 2.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 4,649,400 shares of company stock worth $147,107,697. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PBF. National Bank of Canada FI bought a new stake in shares of PBF Energy in the 2nd quarter worth about $26,000. Quarry LP bought a new stake in PBF Energy during the third quarter worth about $48,000. CWM LLC increased its holdings in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after buying an additional 569 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of PBF Energy in the third quarter valued at approximately $59,000. Finally, Blue Trust Inc. boosted its holdings in shares of PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.