PBF Energy Inc. (NYSE:PBF) Receives $26.36 Consensus Target Price from Analysts

PBF Energy Inc. (NYSE:PBF) has earned a consensus rating of “Reduce” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.55.

Several equities research analysts have recently commented on the stock. Mizuho reduced their price target on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday. Piper Sandler reduced their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group dropped their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Morgan Stanley reduced their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, March 11th.

PBF Energy Price Performance

PBF Energy stock opened at $14.97 on Friday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -3.18 and a beta of 1.62. The firm has a 50-day moving average of $23.04 and a two-hundred day moving average of $27.75. PBF Energy has a 1 year low of $14.11 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, research analysts forecast that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.35%. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 20,000 shares of PBF Energy stock in a transaction dated Friday, March 28th. The stock was purchased at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the completion of the purchase, the insider now directly owns 30,534,998 shares in the company, valued at $582,913,111.82. This trade represents a 0.07 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 671,000 shares of company stock valued at $17,862,200 over the last ninety days. 6.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its holdings in shares of PBF Energy by 150.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after acquiring an additional 1,272,254 shares during the last quarter. American Century Companies Inc. grew its position in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock worth $49,532,000 after purchasing an additional 187,351 shares during the period. Two Sigma Investments LP lifted its holdings in shares of PBF Energy by 12.6% in the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after buying an additional 184,194 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PBF Energy by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock valued at $39,634,000 after buying an additional 78,045 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after acquiring an additional 562,287 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.