Analysts Set PBF Energy Inc. (NYSE:PBF) PT at $28.92

PBF Energy Inc. (NYSE:PBF) has been assigned a consensus rating of “Strong Sell” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.9167.

PBF has been the topic of several recent analyst reports. Wall Street Zen raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Scotiabank upped their price target on shares of PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Piper Sandler increased their price objective on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, November 14th. Mizuho raised their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday, September 15th. Finally, TD Cowen upped their target price on PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Friday, October 31st.

Insiders Place Their Bets

In other news, Director Thomas J. Nimbley sold 250,000 shares of PBF Energy stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the sale, the director directly owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul T. Davis sold 50,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at $7,310,858. This represents a 20.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 507,045 shares of company stock valued at $18,193,421. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC increased its position in shares of PBF Energy by 3.0% during the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 276 shares during the period. Verdence Capital Advisors LLC grew its stake in PBF Energy by 2.5% in the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System increased its holdings in PBF Energy by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after purchasing an additional 353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PBF Energy by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

NYSE:PBF opened at $33.47 on Thursday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -7.20 and a beta of 0.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The business has a 50 day simple moving average of $33.36 and a 200-day simple moving average of $27.51. PBF Energy has a 1 year low of $13.61 and a 1 year high of $41.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.50) EPS. Equities analysts forecast 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 Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

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.