Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $23.18

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

A number of analysts have issued reports on the stock. Mizuho lifted their target price 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. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of PBF Energy from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 11th.

PBF Energy Stock Up 8.2%

PBF traded up $2.12 on Monday, reaching $27.93. 3,830,000 shares of the company traded hands, compared to its average volume of 2,723,510. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -3.07 and a beta of 0.84. The stock's 50 day moving average price is $21.33 and its 200-day moving average price is $22.21. PBF Energy has a 52-week low of $13.62 and a 52-week high of $42.64.

PBF Energy (NYSE:PBF - Get Free Report) last posted its 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. The firm had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company's revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, sell-side analysts expect that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) 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 company's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Trading of PBF Energy

Several large investors have recently added to or reduced their stakes in the company. Xponance Inc. grew its stake in PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after buying an additional 364 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in PBF Energy by 0.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company's stock worth $1,931,000 after buying an additional 480 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after buying an additional 614 shares during the last quarter. Vident Advisory LLC grew its stake in PBF Energy by 9.5% during the fourth quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company's stock worth $213,000 after buying an additional 698 shares during the last quarter. Finally, LPL Financial LLC grew its stake in PBF Energy by 3.2% during the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock worth $632,000 after buying an additional 748 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

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.