PBF Energy Inc. (NYSE:PBF) Given Average Rating of "Reduce" by Analysts

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have received an average recommendation of "Reduce" from the fifteen brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.18.

A number of research firms have commented on PBF. Piper Sandler lowered PBF Energy from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $47.00 to $25.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered PBF Energy from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Tudor Pickering raised PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Finally, StockNews.com lowered PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th.

PBF Energy Trading Down 0.5 %

PBF traded down $0.16 during midday trading on Friday, reaching $31.99. 931,867 shares of the company's stock traded hands, compared to its average volume of 2,477,202. The firm has a fifty day moving average of $31.57 and a two-hundred day moving average of $37.72. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -12.35 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. PBF Energy has a 52 week low of $27.94 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company's revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $6.61 EPS. On average, equities analysts anticipate that PBF Energy will post -2.79 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.44%. This is an increase from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. PBF Energy's dividend payout ratio (DPR) is currently -42.47%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 510,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $33.18 per share, with a total value of $16,921,800.00. Following the acquisition, the insider now directly owns 19,129,598 shares of the company's stock, valued at $634,720,061.64. This represents a 2.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have acquired 4,592,400 shares of company stock worth $145,300,797. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in PBF Energy by 9.3% in the 1st quarter. Advisors Asset Management Inc. now owns 35,228 shares of the oil and gas company's stock worth $2,028,000 after purchasing an additional 2,996 shares during the period. BOKF NA raised its holdings in PBF Energy by 77.9% during the first quarter. BOKF NA now owns 4,871 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 2,133 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in PBF Energy by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company's stock valued at $10,908,000 after acquiring an additional 11,683 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of PBF Energy by 720.8% during the first quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company's stock valued at $2,480,000 after purchasing an additional 37,826 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of PBF Energy during the first quarter valued at about $301,000. 96.29% of the stock is owned by 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.