PBF Energy Inc. (NYSE:PBF) Receives $50.15 Consensus Target Price from Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus recommendation of “Reduce” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $50.1538.

Several equities analysts have issued reports on PBF shares. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. TD Cowen lifted their price target on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Citigroup boosted their price target on PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. UBS Group increased their price objective on PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group raised their price objective on PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd.

Insider Transactions at PBF Energy

In related news, CEO Matthew C. Lucey sold 225,473 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the transaction, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Nimbley sold 468,139 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the sale, the director directly owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This represents a 37.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 5,702,666 shares of company stock valued at $337,355,274. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC purchased a new position in PBF Energy during the fourth quarter worth approximately $31,000. Leonteq Securities AG acquired a new position in PBF Energy during the first quarter worth $33,000. Smartleaf Asset Management LLC boosted its stake in PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after buying an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in PBF Energy in the 4th quarter valued at $57,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Up 4.4%

PBF opened at $75.04 on Tuesday. PBF Energy has a fifty-two week low of $22.13 and a fifty-two week high of $75.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The company has a fifty day moving average of $55.03 and a two-hundred day moving average of $45.76. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.08 and a beta of 0.10.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the company posted ($1.03) EPS. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, research analysts expect that PBF Energy will post 15.74 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio is 9.73%.

Key PBF Energy News

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

• Positive Sentiment: PBF’s second-quarter performance showed a sharp turnaround, with adjusted earnings of $6.22 per share versus a $1.03 loss in the prior-year period. The Martinez refinery restart was completed in May, gross debt fell by more than $1 billion, and the company declared a $0.275 quarterly dividend. PBF Energy Gains as Investors Continue to Digest Strong Q2 Results and Favorable Refining Conditions
• Positive Sentiment: Favorable industry conditions are supporting the bullish case: gasoline prices above $4 per gallon and tight fuel markets can improve refining margins for independent refiners such as PBF. 4 Refining Stocks to Buy as Gas Prices Top $4 a Gallon
• Neutral Sentiment: PBF is also being highlighted as a potential long-term value stock, reflecting its low valuation relative to recent earnings performance. Why PBF Energy Is a Top Value Stock for the Long-Term
• Negative Sentiment: Several insiders sold a combined 603,645 shares for approximately $44 million, including sizable sales by CEO Matthew Lucey, Director Thomas Nimbley, SVP Trecia Canty, and Control Empresarial de Capital. The control shareholder still owns roughly 14.4 million shares, but the concentration of sales may concern investors. PBF Energy Insider Sale Filing
• Negative Sentiment: Recent analyst targets have a median of $41, well below the stock’s recent level near its 52-week high, suggesting some analysts remain cautious about the durability of refining margins and PBF’s earnings cycle. PBF Energy Market Analysis

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.