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

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus recommendation of “Reduce” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.36.

A number of brokerages have commented on PBF. UBS Group reduced their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and reduced their target price for the company from $27.00 to $20.00 in a report on Friday, December 20th. Piper Sandler reduced their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday. Wells Fargo & Company reduced their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Monday, December 16th.

PBF Energy Stock Performance

NYSE PBF opened at $21.26 on Tuesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -4.51 and a beta of 1.62. PBF Energy has a twelve month low of $18.97 and a twelve month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $26.55 and a 200 day moving average of $29.55.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Sell-side analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.17%. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the transaction, the insider now directly owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought a total of 1,062,500 shares of company stock worth $28,442,290 over the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. raised its stake in shares of PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 364 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after acquiring an additional 459 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 460 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock valued at $1,931,000 after acquiring an additional 480 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after acquiring an additional 485 shares in 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.