PBF Energy Inc. (NYSE:PBF) Receives $26.17 Consensus Price Target from Brokerages

PBF Energy Inc. (NYSE:PBF) has earned an average recommendation of “Reduce” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.1667.

Several research analysts recently commented on PBF shares. Citigroup raised their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. UBS Group raised their price target on shares of PBF Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PBF Energy in a research note on Wednesday, October 8th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research note on Monday, September 15th. Finally, Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the company an “underweight” rating in a research report on Friday, October 3rd.

Insider Transactions at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the senior vice president owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the transaction, the senior vice president directly owned 173,332 shares in the company, valued at $5,915,821.16. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently modified their holdings of PBF. T. Rowe Price Investment Management Inc. boosted its holdings in shares of PBF Energy by 170.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after buying an additional 3,612,447 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after buying an additional 1,454,500 shares in the last quarter. Norges Bank bought a new stake in shares of PBF Energy in the 2nd quarter valued at about $24,599,000. BNP Paribas Financial Markets boosted its holdings in shares of PBF Energy by 276.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after buying an additional 755,310 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at about $13,600,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 1.1%

Shares of PBF opened at $28.77 on Wednesday. PBF Energy has a twelve month low of $13.61 and a twelve month high of $34.29. The company has a market cap of $3.33 billion, a P/E ratio of -3.35 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $27.98 and its 200-day simple moving average is $23.14.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm’s revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.54) EPS. As a group, analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.8%. PBF Energy’s dividend payout ratio (DPR) is -12.81%.

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.