PBF Energy Inc. (NYSE:PBF) Receives Consensus Rating of “Reduce” from Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have earned a consensus rating of “Reduce” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.00.

Several research analysts recently commented on PBF shares. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and reduced their price target for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, Scotiabank cut their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 100,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were bought at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the completion of the purchase, the insider now owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. This trade represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 2,469,600 shares of company stock worth $73,932,721. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of PBF Energy in the second quarter valued at about $26,000. Fortitude Family Office LLC raised its stake in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new stake in PBF Energy in the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy during the 3rd quarter worth approximately $59,000. Finally, Blue Trust Inc. increased its holdings in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $31.03 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.61. PBF Energy has a one year low of $24.21 and a one year high of $62.88. The stock’s 50-day moving average is $29.16 and its 200-day moving average is $32.86.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.61 EPS. Equities analysts predict that PBF Energy will post -2.95 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.54%. PBF Energy’s dividend payout ratio is presently -42.47%.

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.