PBF Energy Inc. (NYSE:PBF) Receives Consensus Rating of "Reduce" from Analysts

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have received an average recommendation of "Reduce" from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.18.

Several equities research analysts have issued reports on PBF shares. Morgan Stanley lowered their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. Mizuho lifted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, TD Cowen lowered their price target 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.

PBF Energy Trading Up 0.5%

Shares of NYSE PBF opened at $23.96 on Monday. The company's fifty day moving average is $20.61 and its 200-day moving average is $22.15. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -2.63 and a beta of 0.84. PBF Energy has a twelve month low of $13.62 and a twelve month high of $44.10. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same period last year, the firm posted $0.85 earnings per share. The business's quarterly revenue was down 18.3% compared to the same quarter last year. Equities research analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Thursday, May 15th. PBF Energy's dividend payout ratio is currently -12.09%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the transaction, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have bought 78,500 shares of company stock valued at $1,298,815. Insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after buying an additional 803 shares in the last quarter. Allworth Financial LP increased its position in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PBF Energy during the 1st quarter worth approximately $35,000. Neo Ivy Capital Management acquired a new position in PBF Energy during the 1st quarter worth approximately $37,000. Finally, Activest Wealth Management increased its position in PBF Energy by 199,900.0% during the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,999 shares in the last quarter. 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.

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