PBF Energy Inc (NYSE:PBF) Receives Average Recommendation of “Hold” from Brokerages

PBF Energy Inc (NYSE:PBF) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $42.57.

Several analysts have recently issued reports on PBF shares. Bank of America upgraded shares of PBF Energy from an “underperform” rating to a “neutral” rating in a research report on Monday, April 29th. Cowen restated a “market perform” rating and set a $30.00 target price (down from $33.00) on shares of PBF Energy in a research report on Friday, August 2nd. Morgan Stanley set a $42.00 target price on shares of PBF Energy and gave the company a “buy” rating in a research report on Friday, May 17th. Goldman Sachs Group upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price on the stock in a research report on Monday, August 5th. Finally, Credit Suisse Group upgraded shares of PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, May 15th.

Shares of NYSE PBF traded up $0.20 during mid-day trading on Friday, hitting $21.74. 1,761,400 shares of the company’s stock traded hands, compared to its average volume of 2,058,215. The company’s 50-day moving average is $27.07 and its two-hundred day moving average is $30.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 0.54. The company has a market capitalization of $2.58 billion, a P/E ratio of 6.67, a PEG ratio of 3.09 and a beta of 1.62. PBF Energy has a 1 year low of $21.09 and a 1 year high of $53.91.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). The business 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 firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. Equities analysts anticipate that PBF Energy will post 1.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Wednesday, August 14th. PBF Energy’s dividend payout ratio (DPR) is currently 36.81%.

In related news, insider Carso S.A. De C.V. Inversora bought 1,609,796 shares of the company’s stock in a transaction on Friday, May 24th. The shares were acquired at an average cost of $28.95 per share, for a total transaction of $46,603,594.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas J. Nimbley bought 40,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was bought at an average price of $23.76 per share, for a total transaction of $950,400.00. Following the completion of the purchase, the chief executive officer now directly owns 405,990 shares in the company, valued at $9,646,322.40. The disclosure for this purchase can be found here. Insiders purchased a total of 3,752,384 shares of company stock worth $96,696,410 over the last three months. 3.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PBF. Bank of Montreal Can grew its stake in PBF Energy by 87.9% in the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock worth $87,796,000 after acquiring an additional 1,319,222 shares in the last quarter. Nuveen Asset Management LLC bought a new position in PBF Energy in the 2nd quarter worth about $32,081,000. PointState Capital LP bought a new position in PBF Energy in the 2nd quarter worth about $20,890,000. Towle & Co. grew its stake in PBF Energy by 132.0% in the 2nd quarter. Towle & Co. now owns 1,150,514 shares of the oil and gas company’s stock worth $36,011,000 after acquiring an additional 654,670 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in PBF Energy by 97.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,217,755 shares of the oil and gas company’s stock worth $38,116,000 after acquiring an additional 599,870 shares in the last quarter. Institutional investors and hedge funds own 88.21% of the company’s stock.

About PBF Energy

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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