PBF Energy Inc. (NYSE:PBF) Receives $24.18 Consensus Target Price from Analysts

PBF Energy Inc. (NYSE:PBF - Get Free Report) has been given a consensus rating of "Reduce" by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $23.45.

PBF has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Piper Sandler reduced their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, March 7th. Morgan Stanley lowered their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday. UBS Group reduced their price objective on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, Mizuho lowered their target price on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st.

PBF Energy Stock Up 1.4 %

PBF Energy stock traded up $0.22 during midday trading on Wednesday, hitting $16.28. 1,810,322 shares of the company's stock were exchanged, compared to its average volume of 2,398,424. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a market cap of $1.88 billion, a PE ratio of -3.46 and a beta of 1.15. The firm has a 50-day moving average of $18.99 and a two-hundred day moving average of $25.92. PBF Energy has a 12 month low of $13.62 and a 12 month high of $58.17.

PBF Energy (NYSE:PBF - Get Free Report) last released 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). The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 6.76%. PBF Energy's payout ratio is currently -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 46,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $29.70 per share, for a total transaction of $1,366,200.00. Following the acquisition, the insider now owns 29,190,998 shares in the company, valued at $866,972,640.60. This represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 627,000 shares of company stock valued at $14,602,580 in the last ninety days. Company insiders own 6.70% of the company's stock.

Institutional Trading of PBF Energy

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in 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 valued at $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Norges Bank purchased a new stake in shares of PBF Energy in the fourth quarter worth about $20,896,000. Heartland Advisors Inc. acquired a new stake in PBF Energy during the fourth quarter worth about $1,420,000. Canada Pension Plan Investment Board lifted its holdings in PBF Energy by 5.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company's stock valued at $8,929,000 after acquiring an additional 17,400 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in PBF Energy in the 4th quarter worth approximately $1,654,000. 96.29% of the stock is owned by hedge funds and other 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.