Brokerages Set PBF Energy Inc. (NYSE:PBF) Target Price 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.

PBF Energy Inc. (NYSE:PBF - Get Free Report) has been assigned a consensus rating of "Reduce" from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $25.08.

A number of brokerages have issued reports on PBF. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Piper Sandler raised their price objective 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. Scotiabank reaffirmed a "sector perform" rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Mizuho lifted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $0.91 during midday trading on Friday, reaching $21.69. The company had a trading volume of 4,210,877 shares, compared to its average volume of 3,214,817. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -2.53 and a beta of 0.92. The stock has a fifty day simple moving average of $22.71 and a 200 day simple moving average of $21.99. PBF Energy has a 1-year low of $13.61 and a 1-year high of $38.44.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.13%. PBF Energy's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) earnings per share. As a group, equities research analysts forecast that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, August 14th. PBF Energy's payout ratio is presently -12.09%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. LPL Financial LLC increased its stake in PBF Energy by 3.2% in the 4th quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock valued at $632,000 after buying an additional 748 shares during the last quarter. JPMorgan Chase & Co. increased its stake in PBF Energy by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after buying an additional 562,287 shares during the last quarter. Norges Bank acquired a new stake in PBF Energy in the 4th quarter valued at $20,896,000. Bryce Point Capital LLC acquired a new stake in PBF Energy in the 4th quarter valued at $802,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of PBF Energy during the 4th quarter worth about $672,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.