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

Shares of PBF Energy Inc. (NYSE:PBF) have received an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $54.30.

Several brokerages recently issued reports on PBF. Mizuho cut their price objective on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. 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 report on Friday, June 14th. The Goldman Sachs Group cut their price objective on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Finally, TD Cowen cut their price objective on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 7,500 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $45.65 per share, with a total value of $342,375.00. Following the purchase, the insider now directly owns 14,882,698 shares of the company’s stock, valued at $679,395,163.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 2,091,100 shares of company stock valued at $93,004,617 in the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of PBF Energy during the 4th quarter valued at $1,829,000. Foundry Partners LLC purchased a new stake in PBF Energy during the 4th quarter worth $3,664,000. Hennessy Advisors Inc. boosted its position in PBF Energy by 18.4% during the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock worth $33,329,000 after purchasing an additional 89,900 shares during the period. Van ECK Associates Corp boosted its position in PBF Energy by 763.4% during the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock worth $12,008,000 after purchasing an additional 184,426 shares during the period. Finally, Norges Bank purchased a new stake in PBF Energy during the 4th quarter worth $54,832,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

PBF stock opened at $40.46 on Monday. The firm has a 50 day moving average of $44.17 and a 200-day moving average of $49.07. PBF Energy has a 12-month low of $37.62 and a 12-month high of $62.88. 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 company has a market cap of $4.80 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The company had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.29 billion. As a group, equities analysts expect that PBF Energy will post 3.19 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 2.47%. PBF Energy’s dividend payout ratio (DPR) is presently 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.