PBF Energy Inc. (NYSE:PBF) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on PBF Energy, with eight hold, four sell, two buy and one strong-buy rating among 15 firms. The average 12-month price target is $53.42.
• PBF Energy reported quarterly EPS of $6.22, exceeding estimates of $4.15, while revenue rose 56.2% year over year to $11.68 billion.
• The company paid a quarterly dividend of $0.275 per share, equivalent to a $1.10 annualized payout and a 1.5% yield; insiders sold approximately $364.2 million of stock over the past three months.

PBF Energy Inc. (NYSE:PBF - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $53.4167.

A number of research analysts have commented on PBF shares. The Goldman Sachs Group upped their price target on PBF Energy from $71.00 to $81.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 18th. Wall Street Zen raised PBF Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Evercore assumed coverage on PBF Energy in a report on Friday, July 17th. They issued an "in-line" rating and a $58.00 price objective on the stock. Morgan Stanley raised their target price on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Friday, June 12th. Finally, Freedom Capital downgraded PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st.

PBF Energy Price Performance

PBF Energy stock opened at $74.57 on Friday. The company's 50 day simple moving average is $63.98 and its 200-day simple moving average is $49.39. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 0.09 and a beta of 0.09. PBF Energy has a 1 year low of $25.62 and a 1 year high of $77.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion during the quarter, compared to analysts' expectations of $9.61 billion. During the same quarter last year, the company posted ($1.03) EPS. The firm's quarterly revenue was up 56.2% on a year-over-year basis. As a group, equities research analysts expect that PBF Energy will post 15.74 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy's dividend payout ratio (DPR) is presently 9.73%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, the insider owned 17,142,128 shares in the company, valued at $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew C. Lucey sold 225,473 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the sale, the chief executive officer directly owned 495,771 shares in the company, valued at $35,655,850.32. This represents a 31.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,912,674 shares of company stock worth $364,154,134. Company insiders own 5.50% of the company's stock.

Institutional Trading of PBF Energy

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its position in shares of PBF Energy by 200.5% during the 2nd quarter. Corient Private Wealth LP now owns 40,681 shares of the oil and gas company's stock worth $1,852,000 after purchasing an additional 27,142 shares during the last quarter. California State Teachers Retirement System increased its holdings in PBF Energy by 4,932.4% in the second quarter. California State Teachers Retirement System now owns 5,096,920 shares of the oil and gas company's stock valued at $232,012,000 after buying an additional 4,995,638 shares during the last quarter. HB Wealth Management LLC purchased a new position in PBF Energy in the second quarter valued at $374,000. AlphaGrep UK Ltd acquired a new stake in PBF Energy in the second quarter valued at $390,000. Finally, Nykredit A S acquired a new stake in PBF Energy in the second quarter valued at $149,000. Institutional investors and hedge funds own 96.29% of the company's stock.

About PBF Energy

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.

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