PBF Energy Inc. (NYSE:PBF) Receives $30.14 Average Target Price from Brokerages

PBF Energy Inc. (NYSE:PBF) has earned an average rating of “Reduce” from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.1429.

Several research analysts have commented on PBF shares. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an “underweight” rating in a report on Friday, October 3rd. TD Cowen restated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. Scotiabank raised their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. BMO Capital Markets reiterated a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th.

Insider Activity

In related news, SVP Paul T. Davis sold 50,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This represents a 20.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital sold 260,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $33.17, for a total value of $8,624,200.00. Following the sale, the insider owned 30,407,498 shares of the company’s stock, valued at $1,008,616,708.66. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 894,624 shares of company stock valued at $30,997,335 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 589 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 912 shares during the last quarter. Quent Capital LLC acquired a new position in shares of PBF Energy in the third quarter worth $41,000. Finally, UMB Bank n.a. raised its holdings in shares of PBF Energy by 67.2% during the second quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 801 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Trading Up 0.9%

Shares of NYSE PBF opened at $33.21 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. PBF Energy has a 12 month low of $13.61 and a 12 month high of $41.47. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -7.14, a P/E/G ratio of 5.82 and a beta of 0.47. The business has a fifty day simple moving average of $30.69 and a 200-day simple moving average of $29.61.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations 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 revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.50) EPS. Sell-side analysts predict that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.