Analysts Set PBF Energy Inc. (NYSE:PBF) Target Price at $34.18

Shares of PBF Energy Inc. (NYSE:PBF) have been assigned a consensus rating of “Reduce” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.18.

Several research analysts have recently issued reports 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. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Morgan Stanley reduced their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. The Goldman Sachs Group decreased their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Mizuho cut their price target on PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th.

PBF Energy Stock Down 0.7 %

PBF Energy stock opened at $31.56 on Friday. The stock has a market cap of $3.63 billion, a PE ratio of -12.18 and a beta of 1.56. 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 stock’s fifty day moving average is $31.53 and its two-hundred day moving average is $37.48. PBF Energy has a 1-year low of $27.94 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.61 EPS. On average, sell-side analysts expect that PBF Energy will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.275 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 annualized dividend and a yield of 3.49%. PBF Energy’s dividend payout ratio is -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 100,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost of $31.28 per share, for a total transaction of $3,128,000.00. Following the completion of the acquisition, the insider now directly owns 26,532,498 shares in the company, valued at $829,936,537.44. This represents a 0.38 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 4,592,400 shares of company stock valued at $145,300,797 in the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in PBF Energy during the second quarter worth about $26,000. Quarry LP purchased a new position in shares of PBF Energy during the 3rd quarter worth about $48,000. CWM LLC boosted its position in shares of PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PBF Energy during the third quarter worth approximately $59,000. Finally, Blue Trust Inc. raised its stake in 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. Institutional investors and hedge funds 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.