PBF Energy Inc. (PBF) – What Are Investment Firms Saying About This Stock?

PBF Energy Inc. (NYSE:PBF) has been assigned an average rating of “Hold” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $70.91.

A number of research firms have issued reports on PBF. Citigroup increased their target price on shares of PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Morgan Stanley boosted their price target on shares of PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a report on Monday, September 14th. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of PBF Energy in a report on Thursday, October 1st.

More PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Strong Q3 earnings beat: PBF reported adjusted earnings of $12.78 per share, exceeding the $11.12 consensus estimate, while revenue rose 58.6% year over year to $12.13 billion. The company swung from a $0.52-per-share loss in the prior-year quarter to substantial profitability. PBF Energy Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Debt reduction and refinery improvements: PBF ended the quarter with approximately $2.5 billion in cash and $2.1 billion in debt. Management is targeting more than $350 million in savings through refinery improvement efforts, while higher throughput and the Martinez refinery’s return to full capacity provide additional operating support. PBF Energy Refinery Improvement Efforts
• Positive Sentiment: Dividend increased: PBF raised its quarterly dividend 18.2% to $0.325 per share, payable November 24 to shareholders of record on November 12. The increase signals confidence in cash generation and strengthens the stock’s income appeal. PBF Energy Q3 Results and Dividend Announcement
• Positive Sentiment: Technical and estimate momentum: A hammer chart pattern suggests possible support after recent weakness, and rising earnings estimates may indicate a near-term trend reversal. PBF Energy Technical and Earnings Outlook
• Neutral Sentiment: Executive incentives approved: PBF’s compensation committee authorized new long-term incentive awards for executives. The program may align management with long-term performance, although it could increase compensation expense or shareholder dilution. PBF Energy Executive Incentives
• Negative Sentiment: Convertible-note accounting risk: PBF’s 2032 exchangeable notes may create GAAP earnings volatility and potential dilution, while liquidity and refinancing considerations remain risks if refining conditions weaken. PBF Energy Exchangeable Notes Risks

PBF Energy Trading Up 3.0%

NYSE:PBF opened at $77.83 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. PBF Energy has a fifty-two week low of $25.62 and a fifty-two week high of $92.46. The stock’s 50-day moving average is $77.37 and its two-hundred day moving average is $53.50. The stock has a market cap of $9.23 billion, a PE ratio of 3.48, a price-to-earnings-growth ratio of 0.09 and a beta of 0.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, topping the consensus estimate of $11.12 by $1.66. PBF Energy had a net margin of 6.98% and a return on equity of 38.22%. The business had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the company posted ($0.52) earnings per share. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. As a group, equities research analysts forecast that PBF Energy will post 24.77 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be paid a $0.3250 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.7%. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date is Thursday, November 12th. PBF Energy’s dividend payout ratio is presently 9.73%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 315,776 shares of PBF Energy stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $77.78, for a total transaction of $24,561,057.28. Following the completion of the sale, the insider directly owned 13,866,127 shares in the company, valued at $1,078,507,358.06. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew C. Lucey sold 225,473 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the transaction, the chief executive officer owned 495,771 shares in the company, valued at $35,655,850.32. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,656,374 shares of company stock worth $269,769,137 over the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in PBF Energy during the 1st quarter worth $33,000. Mather Group LLC. bought a new stake in PBF Energy during the third quarter valued at about $37,000. Carolina Wealth Advisors LLC bought a new stake in PBF Energy during the third quarter valued at about $44,000. IFP Advisors Inc boosted its holdings in PBF Energy by 68.7% during the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 591 shares during the period. Finally, SBI Securities Co. Ltd. grew its position in shares of PBF Energy by 148.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,094 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 653 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

About PBF Energy

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.