Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $50.15

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus rating of “Reduce” from the sixteen analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $50.1538.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. Citigroup boosted their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group raised their price target on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd.

Insider Buying and Selling

In related news, CFO Joseph Daniel Marino sold 4,033 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $69.15, for a total transaction of $278,881.95. Following the completion of the transaction, the chief financial officer directly owned 48,851 shares in the company, valued at $3,378,046.65. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Control Empresarial De Capital sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $70.13, for a total value of $10,519,500.00. Following the completion of the transaction, the insider owned 14,621,753 shares in the company, valued at $1,025,423,537.89. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,958,701 shares of company stock valued at $283,396,325 in the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

PBF Energy Stock Performance

Shares of PBF opened at $74.42 on Tuesday. The stock’s 50-day simple moving average is $53.79 and its 200 day simple moving average is $45.18. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. PBF Energy has a 52-week low of $22.08 and a 52-week high of $74.74.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.03) EPS. Research analysts forecast that PBF Energy will post 15.74 EPS for the current fiscal year.

PBF Energy Dividend Announcement

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

Trending Headlines about PBF Energy

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

• Negative Sentiment: Control Empresarial De Capital, a major PBF Energy holder, sold a combined 370,375 shares on August 11–12 for approximately $25.7 million. The transactions reduced its position by about 2.5%, though it still owns roughly 14.6 million shares. Control Empresarial De Capital SEC filing
• Negative Sentiment: Director Thomas J. Nimbley sold 260,063 shares for approximately $17.6 million, cutting his holdings by 24.7% to 793,737 shares. The size of the reduction could weigh on sentiment, particularly after PBF’s recent advance. Thomas J. Nimbley SEC filing
• Negative Sentiment: SVP Paul T. Davis sold 63,295 shares for approximately $4.5 million, reducing his ownership by 25.7% to 183,426 shares. CFO Joseph Daniel Marino also sold 4,033 shares worth about $279,000, lowering his holdings by 7.6% to 48,851 shares. Paul T. Davis SEC filing Joseph Daniel Marino SEC filing

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.