Brokerages Set PBF Energy Inc. (NYSE:PBF) PT at $25.08

Key Points

• PBF Energy Inc. has received an average rating of "Reduce" from 14 analysts, with six sell ratings, seven hold ratings, and only one buy rating.
• The stock's average 12-month target price is $25.08, with recent price upgrades from several analysts, including UBS raising it to $26.00.
• The company recently reported a quarterly loss of ($1.03) EPS, despite revenue of $7.48 billion, which is above analyst estimates of $6.65 billion.

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have earned a consensus recommendation of "Reduce" from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.0833.

Several equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of PBF Energy from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Tuesday, July 22nd. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Morgan Stanley upped their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Scotiabank reissued a "sector perform" rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company increased their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th.

PBF Energy Stock Performance

PBF Energy stock traded up $1.33 during trading hours on Friday, hitting $23.01. The company had a trading volume of 834,875 shares, compared to its average volume of 3,142,084. PBF Energy has a one year low of $13.61 and a one year high of $37.99. The firm has a 50-day moving average of $22.71 and a 200 day moving average of $21.86. The firm has a market cap of $2.66 billion, a PE ratio of -2.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the business posted ($0.54) EPS. The firm's revenue for the quarter was down 14.4% on a year-over-year basis. On average, sell-side analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.8%. PBF Energy's dividend payout ratio (DPR) is currently -12.81%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 48,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock worth $109,364,000 after acquiring an additional 3,612,447 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after acquiring an additional 260,464 shares during the period. American Century Companies Inc. raised its holdings in PBF Energy by 1.7% in the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company's stock valued at $36,231,000 after buying an additional 32,285 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in PBF Energy by 12.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock valued at $31,981,000 after buying an additional 182,456 shares during the period. Finally, Two Sigma Investments LP raised its holdings in 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. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Company Profile

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.