PBF Energy Inc. (NYSE:PBF) Stock Has Average Price Target of $59.55

Key Points

• Analysts hold a neutral view: Fifteen brokerages give PBF Energy a consensus “Hold” rating, with an average 12-month price target of $59.55 versus shares recently trading at $75.27.
• Quarterly results exceeded expectations: PBF reported $6.22 in earnings per share and $11.68 billion in revenue, surpassing estimates and marking 56.2% year-over-year revenue growth.
• Investors receive a modest dividend, while insiders have been selling: The company pays an annualized dividend of $1.10, yielding about 1.5%, while insiders sold roughly $335 million of stock over the past 90 days.

PBF Energy Inc. (NYSE:PBF - Get Free Report) has been given a consensus rating of "Hold" by the fifteen brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.55.

A number of research firms have recently issued reports on PBF. The Goldman Sachs Group lifted their price target on shares of PBF Energy from $71.00 to $81.00 and gave the company a "neutral" rating in a research report on Tuesday, August 18th. Freedom Capital cut PBF Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. TD Cowen upped their price target on PBF Energy from $39.00 to $68.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Wall Street Zen raised PBF Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Morgan Stanley lifted their price objective on PBF Energy from $38.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, September 14th.

PBF Energy Stock Performance

Shares of PBF opened at $75.27 on Wednesday. The company has a 50-day simple moving average of $70.87 and a 200-day simple moving average of $53.89. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.92 billion, a PE ratio of 6.66, a P/E/G ratio of 0.06 and a beta of 0.09. PBF Energy has a 52-week low of $25.62 and a 52-week high of $82.61.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS 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 for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. The firm's revenue was up 56.2% on a year-over-year basis. Equities research analysts predict that PBF Energy will post 22.61 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.2750 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. PBF Energy's dividend payout ratio (DPR) is currently 9.73%.

Insider Activity

In related news, 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 sale, the chief executive officer directly owned 495,771 shares of the company's stock, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital sold 490,000 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the transaction, the insider owned 14,992,128 shares of the company's stock, valued at $1,068,339,041.28. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,926,374 shares of company stock worth $335,005,837 over the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Dimensional Fund Advisors LP increased its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company's stock worth $207,953,000 after buying an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock worth $153,452,000 after acquiring an additional 1,137,533 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy in the fourth quarter worth $34,243,000. Finally, Sei Investments Co. lifted its position in shares of PBF Energy by 41.4% in the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company's stock valued at $17,367,000 after acquiring an additional 106,819 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.

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