Analysts Set PBF Energy Inc. (NYSE:PBF) PT at $27.83

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average rating of “Strong Sell” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Nine 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 price objective among brokers that have issued a report on the stock in the last year is $27.8333.

A number of equities analysts have commented on the stock. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an “underweight” rating in a report on Friday, October 3rd. Bank of America boosted their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group increased their target price on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their price target on shares of PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, September 11th. Finally, Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st.

Insiders Place Their Bets

In other news, SVP Paul T. Davis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the sale, the senior vice president owned 192,391 shares in the company, valued at approximately $7,310,858. The trade was a 20.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Nimbley sold 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the transaction, the director owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 507,045 shares of company stock valued at $18,193,421. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 589 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,248 shares during the last quarter. Allworth Financial LP increased its holdings in shares of PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PBF Energy in the first quarter valued at about $35,000. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 3.4%

PBF Energy stock opened at $37.41 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.33 billion, a P/E ratio of -8.05 and a beta of 0.79. The business has a fifty day moving average of $31.70 and a two-hundred day moving average of $25.72. PBF Energy has a twelve month low of $13.61 and a twelve month high of $41.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same period in the previous year, the company posted ($1.50) EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, analysts forecast that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s dividend payout ratio is currently -23.66%.

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.