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

PBF Energy Inc. (NYSE:PBF) has received an average recommendation of “Reduce” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $26.36.

Several brokerages have issued reports on PBF. Piper Sandler cut their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. UBS Group decreased their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Wells Fargo & Company decreased their price target on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th.

PBF Energy Stock Performance

Shares of PBF opened at $18.98 on Friday. The company has a market cap of $2.19 billion, a PE ratio of -4.03 and a beta of 1.62. The firm has a 50-day moving average of $24.28 and a 200-day moving average of $28.24. PBF Energy has a one year low of $18.82 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

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

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.80%. PBF Energy’s payout ratio is -23.35%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 46,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $29.70 per share, for a total transaction of $1,366,200.00. Following the completion of the purchase, the insider now directly owns 29,190,998 shares of the company’s stock, valued at approximately $866,972,640.60. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 651,000 shares of company stock valued at $17,480,400 in the last ninety days. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the business. Hara Capital LLC boosted its stake in PBF Energy by 7.8% in the fourth quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company’s stock valued at $14,486,000 after buying an additional 39,278 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of PBF Energy in the fourth quarter worth about $254,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of PBF Energy in the 4th quarter valued at approximately $3,132,000. GF Fund Management CO. LTD. bought a new stake in shares of PBF Energy during the 4th quarter valued at approximately $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PBF Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock worth $6,622,000 after purchasing an additional 17,404 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.