PBF Energy Inc. (NYSE:PBF) Stock Has Consensus Price Target of $66.18 According to Brokerages

Key Points

• Analysts hold a generally neutral view of PBF Energy, with 15 brokerages assigning an average rating of “Hold” and a consensus 12-month price target of $66.18.
• PBF Energy reported strong quarterly results, posting $6.22 in EPS versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year.
• Insiders sold more than 4.1 million shares worth approximately $304.7 million in the last quarter, while institutional investors continued to own a dominant 96.29% of the company.

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have earned an average rating of "Hold" from the fifteen brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $66.18.

Several analysts have recently weighed in on the stock. Evercore initiated coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 price objective for the company. Morgan Stanley increased their target price on shares of PBF Energy from $38.00 to $76.00 and gave the company an "underweight" rating in a research report on Monday, September 14th. BMO Capital Markets reiterated a "market perform" rating on shares of PBF Energy in a research note on Thursday, October 1st. Weiss Ratings raised shares of PBF Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Finally, Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 170,000 shares of the company's stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $88.03, for a total value of $14,965,100.00. Following the completion of the sale, the insider directly owned 13,326,127 shares of the company's stock, valued at $1,173,098,959.81. This represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Nimbley sold 116,008 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the transaction, the director owned 793,737 shares in the company, valued at $58,522,229.01. This represents a 12.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,146,374 shares of company stock worth $304,686,537 in the last quarter. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. Dimensional Fund Advisors LP grew its position in shares of 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 acquiring an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the last quarter. Sei Investments Co. grew its position in PBF Energy by 41.4% during the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company's stock worth $17,367,000 after purchasing an additional 106,819 shares during the last quarter. Empowered Funds LLC increased its stake in PBF Energy by 198.0% in the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company's stock valued at $16,944,000 after purchasing an additional 236,418 shares during the period. Finally, Principal Financial Group Inc. increased its stake in PBF Energy by 4.7% in the first quarter. Principal Financial Group Inc. now owns 186,598 shares of the oil and gas company's stock valued at $8,886,000 after purchasing an additional 8,361 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Trading Down 4.1%

PBF opened at $76.00 on Friday. PBF Energy has a one year low of $25.62 and a one year high of $92.46. The company has a market cap of $9.01 billion, a P/E ratio of 6.73, a PEG ratio of 0.08 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The business's 50-day simple moving average is $77.11 and its 200-day simple moving average is $58.43.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The business's quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.03) EPS. As a group, equities research analysts expect that PBF Energy will post 24.95 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.2750 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. PBF Energy's dividend payout ratio (DPR) is presently 9.73%.

About PBF Energy

PBF Energy Inc NYSE: PBF is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.

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