PBF Energy Inc. (NYSE:PBF) Given Average Recommendation of “Hold” by Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have earned a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $57.55.

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Citigroup began coverage on PBF Energy in a research note on Wednesday, January 24th. They issued a “neutral” rating for the company. Mizuho cut PBF Energy from a “buy” rating to a “neutral” rating and upped their price target for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Scotiabank upped their price target on PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, TD Cowen upped their price target on PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, February 16th.

PBF Energy Stock Performance

PBF Energy stock opened at $55.91 on Friday. The stock has a 50-day simple moving average of $53.86 and a 200 day simple moving average of $48.37. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. PBF Energy has a 12-month low of $31.25 and a 12-month high of $62.88. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 3.40 and a beta of 1.73.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.41 earnings per share. On average, research analysts anticipate that PBF Energy will post 5.88 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is currently 6.08%.

Insiders Place Their Bets

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total value of $2,202,800.00. Following the transaction, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $10,074,600 in the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the stock. Norden Group LLC acquired a new stake in shares of PBF Energy in the 1st quarter valued at approximately $212,000. State of Michigan Retirement System boosted its holdings in shares of PBF Energy by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 26,700 shares of the oil and gas company’s stock valued at $1,537,000 after buying an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of PBF Energy by 2.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 195,485 shares of the oil and gas company’s stock valued at $11,254,000 after buying an additional 3,742 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of PBF Energy by 31.5% in the 1st quarter. AlphaMark Advisors LLC now owns 6,926 shares of the oil and gas company’s stock valued at $399,000 after buying an additional 1,659 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in shares of PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after buying an additional 89,900 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.