PBF Energy Inc. (NYSE:PBF) Receives $31.15 Consensus Target Price from Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average rating of “Reduce” by the fifteen research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.1538.

A number of analysts have issued reports on the company. Citigroup raised their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th.

Insider Activity

In related news, insider Control Empresarial De Capital sold 380,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $43.30, for a total value of $16,454,000.00. Following the completion of the transaction, the insider directly owned 24,746,098 shares of the company’s stock, valued at approximately $1,071,506,043.40. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the completion of the transaction, the director owned 790,716 shares of the company’s stock, valued at $31,683,990.12. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,717,979 shares of company stock valued at $222,327,012 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in PBF. Allspring Global Investments Holdings LLC purchased a new stake in PBF Energy during the 3rd quarter worth about $10,207,000. First Eagle Investment Management LLC grew its holdings in PBF Energy by 7.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after buying an additional 40,129 shares in the last quarter. Nomura Holdings Inc. purchased a new position in PBF Energy during the 2nd quarter valued at about $5,843,000. Allianz Asset Management GmbH increased its position in shares of PBF Energy by 1,232.0% during the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock valued at $8,058,000 after buying an additional 247,039 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of PBF Energy by 264.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 70,312 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Up 0.1%

PBF Energy stock opened at $43.55 on Friday. The firm has a 50 day moving average price of $35.15 and a 200-day moving average price of $32.64. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. PBF Energy has a twelve month low of $13.61 and a twelve month high of $47.18. The company has a market capitalization of $5.09 billion, a P/E ratio of -29.62, a P/E/G ratio of 4.63 and a beta of 0.41.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm posted ($2.82) EPS. PBF Energy’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were paid a $0.275 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. PBF Energy’s dividend payout ratio (DPR) is presently -74.83%.

About PBF Energy

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.