PBF Energy Inc (NYSE:PBF) Given Consensus Rating of “Hold” by Brokerages

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PBF Energy Inc (NYSE:PBF) has been given a consensus recommendation of “Hold” by the twelve research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $42.57.

A number of research firms have issued reports on PBF. Cowen reaffirmed a “market perform” rating and issued a $30.00 target price (down previously from $33.00) on shares of PBF Energy in a report on Friday, August 2nd. Morgan Stanley set a $42.00 price objective on PBF Energy and gave the stock a “buy” rating in a research note on Friday, May 17th. TheStreet cut PBF Energy from a “b-” rating to a “c” rating in a research note on Thursday, August 1st. Bank of America raised PBF Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, April 29th. Finally, Credit Suisse Group upgraded PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Wednesday, May 15th.

In related news, insider Carso S.A. De C.V. Inversora bought 686,500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $24.80 per share, for a total transaction of $17,025,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Nimbley bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $23.76 per share, for a total transaction of $950,400.00. Following the acquisition, the chief executive officer now directly owns 405,990 shares of the company’s stock, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,142,588 shares of company stock worth $50,092,816. Corporate insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. BlackRock Inc. increased its position in PBF Energy by 1.0% during the first quarter. BlackRock Inc. now owns 10,948,546 shares of the oil and gas company’s stock worth $340,937,000 after buying an additional 104,616 shares during the last quarter. Bank of Montreal Can lifted its stake in PBF Energy by 87.9% during the first quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock worth $87,796,000 after purchasing an additional 1,319,222 shares during the last quarter. Invesco Ltd. lifted its stake in PBF Energy by 29.9% during the second quarter. Invesco Ltd. now owns 2,297,906 shares of the oil and gas company’s stock worth $71,924,000 after purchasing an additional 528,380 shares during the last quarter. Geode Capital Management LLC lifted its stake in PBF Energy by 15.8% during the fourth quarter. Geode Capital Management LLC now owns 1,786,685 shares of the oil and gas company’s stock worth $58,370,000 after purchasing an additional 243,762 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in PBF Energy by 5.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,584,192 shares of the oil and gas company’s stock worth $49,332,000 after purchasing an additional 78,162 shares during the last quarter. Institutional investors and hedge funds own 83.15% of the company’s stock.

PBF stock opened at $22.38 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.54 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2.69 billion, a P/E ratio of 6.87, a P/E/G ratio of 2.92 and a beta of 1.62. PBF Energy has a 12-month low of $21.09 and a 12-month high of $53.91. The stock’s 50 day simple moving average is $26.09 and its 200 day simple moving average is $29.76.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PBF Energy had a net margin of 0.09% and a return on equity of 6.34%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. On average, research analysts forecast that PBF Energy will post 1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.36%. PBF Energy’s dividend payout ratio (DPR) is 36.81%.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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