Brokerages Set PBF Energy Inc. (NYSE:PBF) Target Price at $33.09

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have been assigned an average recommendation of "Reduce" from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $33.09.

A number of brokerages have commented on PBF. JPMorgan Chase & Co. cut shares of PBF Energy from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Monday. BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Finally, Scotiabank decreased their price target on shares of PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th.

PBF Energy Stock Performance

Shares of PBF stock traded down $1.12 during trading hours on Thursday, reaching $25.46. 2,866,499 shares of the company's stock were exchanged, compared to its average volume of 2,157,449. PBF Energy has a fifty-two week low of $25.42 and a fifty-two week high of $62.88. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.93 billion, a P/E ratio of -9.83 and a beta of 1.57. The business has a fifty day moving average price of $30.95 and a 200-day moving average price of $35.51.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy's revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.61 EPS. Analysts predict that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.275 dividend. This is an increase from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy's payout ratio is -42.47%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 265,000 shares of the stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $31.87 per share, with a total value of $8,445,550.00. Following the transaction, the insider now directly owns 23,217,398 shares of the company's stock, valued at approximately $739,938,474.26. This trade represents a 1.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 3,568,100 shares of company stock valued at $111,183,331. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company's stock valued at $47,663,000 after purchasing an additional 1,226,909 shares during the period. BNP Paribas Financial Markets grew its stake in shares of PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock worth $26,717,000 after acquiring an additional 492,053 shares during the last quarter. Recurrent Investment Advisors LLC purchased a new stake in shares of PBF Energy in the third quarter worth about $11,516,000. Hsbc Holdings PLC lifted its position in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company's stock valued at $22,881,000 after buying an additional 355,329 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of PBF Energy by 32.9% in the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company's stock valued at $64,489,000 after purchasing an additional 347,268 shares during the last quarter. Hedge funds and other institutional investors 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.