PBF Energy Inc. (NYSE:PBF) Receives Average Rating of "Reduce" from Brokerages

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have earned an average recommendation of "Reduce" from the fourteen brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.18.

A number of equities analysts have recently commented on the stock. TD Cowen cut their target price on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Mizuho upped their price target on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Scotiabank dropped their price objective on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Wells Fargo & Company raised their price target on shares of PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 15,000 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $13.98 per share, with a total value of $209,700.00. Following the acquisition, the insider now owns 30,757,998 shares of the company's stock, valued at approximately $429,996,812.04. This represents a 0.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 224,500 shares of company stock valued at $3,816,695 over the last three months. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBF. Janney Montgomery Scott LLC acquired a new position in PBF Energy during the 4th quarter valued at about $200,000. Yousif Capital Management LLC boosted its position in shares of PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after buying an additional 459 shares during the period. Leavell Investment Management Inc. raised its stake in PBF Energy by 6.8% during the 4th quarter. Leavell Investment Management Inc. now owns 16,840 shares of the oil and gas company's stock valued at $447,000 after acquiring an additional 1,070 shares in the last quarter. Van ECK Associates Corp boosted its position in PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after acquiring an additional 392,776 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of PBF Energy by 12.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 66,534 shares of the oil and gas company's stock worth $1,766,000 after purchasing an additional 7,110 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Down 1.6%

PBF traded down $0.33 during midday trading on Thursday, hitting $20.84. The company's stock had a trading volume of 1,764,130 shares, compared to its average volume of 2,575,705. PBF Energy has a 52-week low of $13.62 and a 52-week high of $48.20. The firm has a 50-day moving average price of $18.15 and a two-hundred day moving average price of $23.15. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.41 billion, a P/E ratio of -4.42 and a beta of 0.82.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm's quarterly revenue was down 18.3% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 5.28%. PBF Energy's payout ratio is -12.09%.

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.