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

Key Points

• PBF Energy has a consensus analyst rating of "Reduce" from 15 analysts, with four sells, nine holds, and two buys. The average 12-month price target is $38.50.
• Recent analyst actions have been mixed, including target increases from BMO Capital Markets and Morgan Stanley, while TD Cowen and Freedom Capital upgraded the stock to hold. Goldman Sachs initiated coverage with a neutral rating.
• The stock has been active recently: it was trading at $60.91, near its 52-week high of $61.58, while insiders sold shares and institutions increased holdings. The company also reported a revenue beat in its latest earnings but missed EPS expectations.

PBF Energy Inc. (NYSE:PBF - Get Free Report) has earned a consensus recommendation of "Reduce" from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.50.

A number of analysts have recently issued reports on PBF shares. BMO Capital Markets lifted their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, April 2nd. TD Cowen raised shares of PBF Energy from a "sell" rating to a "hold" rating and raised their target price for the company from $36.00 to $39.00 in a research report on Monday, June 29th. Freedom Capital upgraded shares of PBF Energy to a "hold" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group began coverage on shares of PBF Energy in a research report on Friday, April 10th. They set a "neutral" rating and a $49.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a research note on Friday, June 12th.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider owned 17,142,128 shares of the company's stock, valued at $794,709,054.08. The trade was a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,541,570 shares of company stock valued at $165,787,386 in the last ninety days. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock worth $590,000 after acquiring an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company's stock valued at $1,140,000 after acquiring an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock valued at $4,996,000 after acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock worth $62,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of PBF Energy during the 2nd quarter worth about $1,143,000. 96.29% of the stock is owned by institutional investors.

PBF Energy Stock Up 3.7%

NYSE:PBF opened at $60.91 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The company has a market cap of $7.21 billion, a PE ratio of 16.42, a PEG ratio of 0.15 and a beta of 0.11. PBF Energy has a 52-week low of $21.24 and a 52-week high of $61.58. The stock has a 50-day simple moving average of $44.05 and a 200 day simple moving average of $40.20.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the previous year, the firm posted ($3.53) EPS. The company's revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that PBF Energy will post 9.76 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy's dividend payout ratio (DPR) is currently 29.65%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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