Brokerages Set PBF Energy Inc. (NYSE:PBF) Price Target at $32.00

PBF Energy Inc. (NYSE:PBF) has received a consensus rating of “Reduce” from the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $32.00.

Several research analysts have issued reports on PBF shares. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $47.00 to $25.00 in a report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and dropped their target price for the company from $27.00 to $20.00 in a report on Friday, December 20th.

PBF Energy Stock Up 5.4 %

PBF Energy stock opened at $31.34 on Monday. The stock has a 50-day simple moving average of $29.15 and a 200-day simple moving average of $32.99. The company has a market capitalization of $3.61 billion, a P/E ratio of -12.10 and a beta of 1.61. 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 fifty-two week low of $24.21 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.61 EPS. Equities research analysts expect that PBF Energy will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 409,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $31.58 per share, with a total value of $12,916,220.00. Following the purchase, the insider now directly owns 27,368,498 shares of the company’s stock, valued at approximately $864,297,166.84. This trade represents a 1.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 2,369,600 shares of company stock valued at $71,070,721. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors have recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in shares of PBF Energy during the 2nd quarter worth $26,000. Fortitude Family Office LLC increased its holdings in PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,056 shares in the last quarter. Quarry LP purchased a new position in PBF Energy during the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in PBF Energy during the third quarter worth about $59,000. Finally, Blue Trust Inc. lifted its holdings in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other 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.