Brokerages Set PBF Energy Inc. (NYSE:PBF) Target Price at $36.15

Shares of PBF Energy Inc. (NYSE:PBF) have earned an average recommendation of “Reduce” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $36.1538.

Several equities analysts have weighed in on PBF shares. TD Cowen cut their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a report on Monday, April 27th. Morgan Stanley lifted their price objective on PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Wall Street Zen lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Finally, BMO Capital Markets lifted their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the transaction, the insider directly owned 22,996,898 shares in the company, valued at approximately $1,062,686,656.58. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 9,249,525 shares of company stock valued at $429,107,981 in the last 90 days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after buying an additional 3,550,820 shares in the last quarter. Invesco Ltd. grew its position in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC grew its position in PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after buying an additional 1,454,500 shares in the last quarter. Norges Bank acquired a new stake in PBF Energy during the fourth quarter worth about $34,243,000. Finally, Arrowstreet Capital Limited Partnership grew its position in PBF Energy by 2,198.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after buying an additional 1,159,628 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Price Performance

NYSE PBF opened at $41.89 on Thursday. PBF Energy has a fifty-two week low of $17.53 and a fifty-two week high of $52.18. The stock’s 50-day moving average is $42.81 and its two-hundred day moving average is $37.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The firm has a market cap of $4.96 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.15 and a beta of 0.15.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter last year, the business earned ($3.53) earnings per share. PBF Energy’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that PBF Energy will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. PBF Energy’s payout ratio is presently 29.65%.

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.