Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $32.00

Shares of PBF Energy Inc. (NYSE:PBF) have been assigned a consensus rating of “Reduce” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.00.

A number of research analysts recently weighed in on PBF shares. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and reduced their price objective for the company from $27.00 to $20.00 in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Bank of America initiated 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 on the stock. Finally, StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 40,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average cost of $27.47 per share, with a total value of $1,098,800.00. Following the completion of the transaction, the insider now owns 29,355,998 shares of the company’s stock, valued at approximately $806,409,265.06. This trade represents a 0.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought 1,968,500 shares of company stock valued at $58,476,810 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in PBF. Fortitude Family Office LLC grew its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the period. Quarry LP bought a new position in PBF Energy in the third quarter worth approximately $48,000. Harbor Capital Advisors Inc. purchased a new position in shares of PBF Energy during the 3rd quarter worth $59,000. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy during the 4th quarter valued at $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 614 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 12.3 %

Shares of PBF Energy stock opened at $23.33 on Friday. PBF Energy has a 1 year low of $22.03 and a 1 year high of $62.88. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -9.01 and a beta of 1.60. The company has a 50-day moving average of $28.43 and a 200 day moving average of $31.32. 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 (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. As a group, sell-side analysts anticipate that PBF Energy will post -3.75 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared 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. This represents a $1.10 annualized dividend and a dividend yield of 4.72%. PBF Energy’s payout ratio is -42.47%.

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.