PBF Energy Inc. (NYSE:PBF) Given Average Rating of "Reduce" by Brokerages

Key Points

• PBF Energy Inc. has received an average brokerage rating of "Reduce," with eight analysts recommending a sell, five a hold, and one a buy, while the average price target is $26.17.
• Recent insider trading activity includes significant stock sales by senior executives, with one selling 30,000 shares and another 50,000 shares, both indicating a decrease in their ownership percentages.
• The company reported a quarterly dividend of $0.275 per share, along with July earnings surpassing expectations, although revenue declined 14.4% year-over-year.

PBF Energy Inc. (NYSE:PBF - Get Free Report) has been assigned an average rating of "Reduce" from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.1667.

Several brokerages recently issued reports on PBF. Citigroup raised their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. UBS Group raised their target price on shares of PBF Energy from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a "sell (d+)" rating on shares of PBF Energy in a research note on Wednesday, October 8th. Mizuho raised their target price on shares of PBF Energy from $23.00 to $26.00 and gave the company an "underperform" rating in a research note on Monday, September 15th. Finally, Piper Sandler raised their target price on shares of PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a research note on Thursday, September 11th.

Insider Activity at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the senior vice president directly owned 207,984 shares in the company, valued at $7,071,456. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the sale, the senior vice president owned 173,332 shares of the company's stock, valued at $5,915,821.16. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in shares of PBF Energy by 25.0% during the second quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company's stock worth $57,000 after purchasing an additional 522 shares during the period. GAMMA Investing LLC increased its holdings in shares of PBF Energy by 11.6% during the third quarter. GAMMA Investing LLC now owns 5,041 shares of the oil and gas company's stock worth $152,000 after purchasing an additional 525 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of PBF Energy by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company's stock worth $286,000 after purchasing an additional 527 shares during the period. Bank of Montreal Can increased its holdings in shares of PBF Energy by 5.7% during the second quarter. Bank of Montreal Can now owns 11,734 shares of the oil and gas company's stock worth $254,000 after purchasing an additional 629 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of PBF Energy by 8.1% during the second quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company's stock worth $192,000 after purchasing an additional 664 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Trading Up 1.1%

PBF Energy stock opened at $29.44 on Wednesday. The firm has a 50-day moving average of $27.61 and a 200-day moving average of $22.98. PBF Energy has a one year low of $13.61 and a one year high of $34.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -3.43 and a beta of 0.85.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the business posted ($0.54) EPS. PBF Energy's revenue was down 14.4% on a year-over-year basis. On average, equities analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 3.7%. PBF Energy's dividend payout ratio (DPR) is -12.81%.

About PBF Energy

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.

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