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

Key Points

• PBF Energy Inc. has received a consensus rating of "Reduce" from analysts, with six analysts recommending a sell, seven suggesting hold, and one placing a buy recommendation.
• The average one-year target price for PBF Energy shares is $25.17, with target price adjustments made by various analysts, including a notable increase by Citigroup to $29.00.
• Recently, an insider purchased 48,500 shares at an average cost of $17.99 per share, indicating a 0.16% increase in their stake in the company.

Shares of PBF Energy Inc. (NYSE:PBF - Get Free Report) have been given a consensus rating of "Reduce" by the fourteen research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $25.1667.

Several brokerages have recently issued reports on PBF. Morgan Stanley upped their target price on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $25.00 price target (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Piper Sandler reiterated an "underweight" rating and set a $22.00 price target (up from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Finally, UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and upped their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th.

PBF Energy Price Performance

PBF stock traded up $0.32 during mid-day trading on Tuesday, hitting $26.68. The company had a trading volume of 3,916,567 shares, compared to its average volume of 3,198,075. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -3.11 and a beta of 0.92. PBF Energy has a 12-month low of $13.61 and a 12-month high of $34.49. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $23.86 and a 200 day moving average price of $21.18.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.54) EPS. On average, research analysts anticipate that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.1%. PBF Energy's dividend payout ratio (DPR) is -12.81%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. The trade was a 0.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in shares of PBF Energy during the second quarter valued at approximately $5,843,000. Kestra Investment Management LLC raised its holdings in shares of PBF Energy by 427.4% in the second quarter. Kestra Investment Management LLC now owns 4,599 shares of the oil and gas company's stock worth $100,000 after buying an additional 3,727 shares during the last quarter. Caxton Associates LLP raised its holdings in shares of PBF Energy by 308.5% in the second quarter. Caxton Associates LLP now owns 282,434 shares of the oil and gas company's stock worth $6,120,000 after buying an additional 213,290 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of PBF Energy by 14.0% in the second quarter. Corient Private Wealth LLC now owns 12,040 shares of the oil and gas company's stock worth $261,000 after buying an additional 1,480 shares during the last quarter. Finally, Voleon Capital Management LP raised its holdings in shares of PBF Energy by 274.3% in the second quarter. Voleon Capital Management LP now owns 111,525 shares of the oil and gas company's stock worth $2,417,000 after buying an additional 81,728 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.