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

PBF Energy Inc. (NYSE:PBF) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $53.80.

Several equities analysts recently weighed in on PBF shares. The Goldman Sachs Group lowered their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Piper Sandler cut their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. decreased their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. UBS Group dropped their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, TD Cowen lowered their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd.

PBF Energy Stock Performance

PBF opened at $34.07 on Friday. The company’s 50 day moving average is $40.75 and its 200 day moving average is $48.20. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60. PBF Energy has a 12-month low of $33.41 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that PBF Energy will post 1.63 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. PBF Energy’s dividend payout ratio is currently 6.92%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 200,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the completion of the transaction, the insider now directly owns 14,824,198 shares in the company, valued at approximately $672,573,863.26. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased a total of 2,448,100 shares of company stock worth $106,825,157 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBF. GAMMA Investing LLC increased its position in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of PBF Energy in the 2nd quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of PBF Energy in the 1st quarter worth about $27,000. Creekmur Asset Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter valued at about $29,000. Finally, CWM LLC lifted its holdings in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

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.