PBF Energy Inc. (NYSE:PBF) Receives Consensus Rating of "Reduce" from Analysts

PBF Energy Inc. (NYSE:PBF - Get Free Report) has received a consensus recommendation of "Reduce" from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.00.

A number of equities research analysts recently weighed in on the company. Scotiabank dropped their price target on 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. Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Piper Sandler downgraded shares of PBF Energy from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Bank of America started coverage on shares of PBF Energy in a research report on Thursday, October 17th. They set an "underperform" rating and a $25.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on PBF Energy from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday.

PBF Energy Stock Performance

Shares of PBF Energy stock traded up $1.41 during trading on Monday, hitting $29.39. 3,625,029 shares of the stock were exchanged, compared to its average volume of 2,189,476. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $29.14 and a 200-day moving average price of $33.11. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -11.35 and a beta of 1.61. PBF Energy has a 1-year low of $24.21 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the firm earned $6.61 EPS. PBF Energy's quarterly revenue was down 21.9% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's payout ratio is -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 287,100 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average cost of $31.91 per share, with a total value of $9,161,361.00. Following the completion of the purchase, the insider now directly owns 24,751,498 shares in the company, valued at $789,820,301.18. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have purchased 3,369,600 shares of company stock worth $102,820,721. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in 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 acquiring an additional 1,226,909 shares in the last quarter. American Century Companies Inc. lifted its stake in PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company's stock valued at $45,712,000 after purchasing an additional 32,862 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock valued at $26,717,000 after buying an additional 492,053 shares during the last quarter. Private Management Group Inc. boosted its position in PBF Energy by 27.5% during the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock worth $26,267,000 after purchasing an additional 183,183 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company's stock worth $29,883,000 after buying an additional 84,532 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

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.