Analysts Set PBF Energy Inc. (NYSE:PBF) Target Price at $29.55

PBF Energy Inc. (NYSE:PBF - Get Free Report) has received a consensus rating of "Reduce" from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $29.55.

PBF has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of PBF Energy from $34.00 to $25.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group lowered 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. UBS Group dropped their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Mizuho downgraded PBF Energy from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $33.00 to $31.00 in a report on Monday, December 16th. Finally, TD Cowen cut shares of PBF Energy from a "hold" rating to a "sell" rating and dropped their price target for the stock from $27.00 to $20.00 in a research note on Friday, December 20th.

PBF Energy Trading Down 2.1 %

Shares of NYSE:PBF traded down $0.43 on Tuesday, hitting $20.14. The company had a trading volume of 4,055,630 shares, compared to its average volume of 2,089,380. The firm's 50-day simple moving average is $26.73 and its two-hundred day simple moving average is $29.75. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy has a 1 year low of $18.97 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (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 firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. Equities analysts anticipate that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.46%. PBF Energy's payout ratio is -23.35%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 70,000 shares of PBF Energy stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the transaction, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 1,062,500 shares of company stock worth $28,442,290 over the last quarter. Company insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently made changes to their positions in PBF. Van ECK Associates Corp boosted its holdings in shares of PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after buying an additional 392,776 shares during the last quarter. Neo Ivy Capital Management bought a new position in PBF Energy in the third quarter worth approximately $2,404,000. Intech Investment Management LLC raised its position in PBF Energy by 165.9% in the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company's stock worth $1,427,000 after acquiring an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company's stock worth $1,839,000 after acquiring an additional 18,173 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in shares of PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock valued at $2,896,000 after acquiring an additional 26,952 shares during the period. 96.29% of the stock is currently owned by 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.