PBF Energy Inc. (NYSE:PBF) Stock Has Average Target Price of $66.18 According to Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average rating of “Hold” by the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $70.91.

A number of equities research analysts recently commented on PBF shares. Mizuho raised their price objective on shares of PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Evercore initiated coverage on shares of PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price for the company. Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. TD Cowen increased their target price on PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 22nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of PBF Energy in a research note on Thursday, October 1st.

Insider Transactions at PBF Energy

In related news, Director Thomas Nimbley sold 468,139 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the transaction, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Lucey sold 225,473 shares of PBF Energy stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the sale, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,146,374 shares of company stock valued at $304,686,537 over the last three months. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently bought and sold shares of PBF. Dimensional Fund Advisors LP grew its position in PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after purchasing an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares in the last quarter. Sei Investments Co. lifted its position in PBF Energy by 41.4% during the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after buying an additional 106,819 shares in the last quarter. Empowered Funds LLC lifted its position in PBF Energy by 198.0% during the 1st quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after buying an additional 236,418 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in PBF Energy by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 186,598 shares of the oil and gas company’s stock worth $8,886,000 after buying an additional 8,361 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Key Stories Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF’s Martinez refinery restart, combined with up to $1.25 billion in insurance recoveries, could improve operating cash flow. Strong refining margins are also supporting the company’s cash-flow outlook. Will Martinez Refinery Restart Strengthen PBF Energy’s Cash Flow?
• Positive Sentiment: Zacks identified PBF as one of its preferred refining and marketing stocks, citing strong industry profit margins and recommending it alongside Marathon Petroleum and Phillips 66. 3 Top Refining & Marketing Picks on Strong Profit Margins
• Positive Sentiment: PBF recently moved above its 50-day moving average, a technical signal that suggests improving short-term momentum and investor support. PBF Energy Recently Broke Out Above the 50-Day Moving Average
• Positive Sentiment: Analysts view PBF as a stronger downstream-energy investment than HF Sinclair, pointing to earnings growth, improving margins, cost savings and a lower valuation. PBF vs. DINO: Which Downstream Energy Stock Is the Better Buy?
• Neutral Sentiment: PBF enters its upcoming third-quarter earnings report with expectations for a significant profit rebound, strong refinery utilization and a favorable valuation. However, these benefits remain dependent on the actual results and management outlook. PBF Energy’s Q3 Earnings on Deck
• Negative Sentiment: Rising crude-oil costs could pressure refining profitability if product prices and crack spreads do not keep pace, creating a risk ahead of earnings. PBF Energy’s Q3 Earnings on Deck

PBF Energy Stock Performance

Shares of PBF stock opened at $73.58 on Friday. PBF Energy has a 52 week low of $25.62 and a 52 week high of $92.46. The company’s 50 day moving average price is $77.20 and its two-hundred day moving average price is $52.86.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. The company had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.03) EPS. On average, analysts predict that PBF Energy will post 24.95 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.2750 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th.

About PBF Energy

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.