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

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $55.45.

A number of research analysts have issued reports on PBF shares. Mizuho reduced their price objective on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Piper Sandler lowered their price objective on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, June 14th. JPMorgan Chase & Co. upped their target price on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, TD Cowen lowered their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 600,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $44.13 per share, for a total transaction of $26,478,000.00. Following the completion of the purchase, the insider now owns 16,004,098 shares in the company, valued at approximately $706,260,844.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 2,091,100 shares of company stock worth $93,004,617. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in PBF Energy in the 4th quarter worth about $54,832,000. Janus Henderson Group PLC grew its stake in shares of PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after acquiring an additional 547,509 shares during the period. SG Americas Securities LLC raised its holdings in shares of PBF Energy by 14,785.7% during the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after purchasing an additional 539,381 shares during the last quarter. FMR LLC lifted its position in PBF Energy by 91.3% during the third quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock valued at $48,420,000 after purchasing an additional 431,801 shares during the period. Finally, Natixis purchased a new stake in PBF Energy in the first quarter worth approximately $16,269,000. 96.29% of the stock is owned by institutional investors.

PBF Energy Stock Performance

PBF Energy stock opened at $46.50 on Thursday. PBF Energy has a 1-year low of $39.18 and a 1-year high of $62.88. The firm has a market cap of $5.51 billion, a P/E ratio of 3.22 and a beta of 1.60. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $48.65 and a 200-day moving average of $49.55.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. Sell-side analysts expect that PBF Energy will post 5.26 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

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.