PBF Energy Inc. (NYSE:PBF) Receives Average Rating of “Hold” from Analysts

Shares of PBF Energy Inc. (NYSE:PBF) have been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $59.55.

Several equities analysts have recently commented on PBF shares. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of PBF Energy in a research report on Thursday. Evercore assumed coverage on PBF Energy in a research note on Friday, July 17th. They set an “in-line” rating and a $58.00 target price on the stock. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Freedom Capital cut PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $80.62 on Wednesday. The firm has a fifty day moving average price of $71.91 and a 200-day moving average price of $54.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The stock has a market cap of $9.56 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. PBF Energy has a 1 year low of $25.62 and a 1 year high of $83.36.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. PBF Energy’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.03) EPS. Equities analysts anticipate that PBF Energy will post 22.66 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.2750 per share. The ex-dividend date was Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. PBF Energy’s dividend payout ratio (DPR) is presently 9.73%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 490,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the transaction, the insider owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Lucey sold 225,473 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the transaction, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,726,374 shares of company stock valued at $325,177,837. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in PBF Energy during the first quarter valued at approximately $33,000. Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy in the 4th quarter worth approximately $57,000. Global Retirement Partners LLC boosted its position in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 2,147 shares during the last quarter. IFP Advisors Inc boosted its position in shares of PBF Energy by 68.7% during the 2nd 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 last quarter. Finally, Strs Ohio purchased a new position in shares of PBF Energy in the first quarter valued at $143,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.