PBF Energy Inc. (NYSE:PBF) Stock Has Consensus Target Price of $59.55 According to Brokerages

PBF Energy Inc. (NYSE:PBF) has received a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $62.45.

Several research firms recently weighed in on PBF. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Morgan Stanley lifted their target price on PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, September 14th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings raised PBF Energy from a “sell (d-)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Finally, TD Cowen restated a “hold” rating on shares of PBF Energy in a report on Thursday, October 1st.

PBF Energy Stock Performance

NYSE:PBF opened at $83.03 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. PBF Energy has a 12-month low of $25.62 and a 12-month high of $85.08. The stock has a 50-day moving average price of $72.78 and a 200 day moving average price of $55.20. The stock has a market capitalization of $9.84 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.06 and a beta of 0.18.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the company earned ($1.03) EPS. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. Equities research analysts forecast that PBF Energy will post 23.92 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Insider Activity

In related news, Director Thomas Nimbley sold 468,139 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total value of $32,554,386.06. Following the completion of the transaction, the director directly owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Control Empresarial De Capital sold 490,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the sale, the insider owned 14,992,128 shares in the company, valued at $1,068,339,041.28. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,446,374 shares of company stock worth $313,507,637. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after purchasing an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership raised its position in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after purchasing an additional 1,137,533 shares during the period. Norges Bank bought a new stake in shares of PBF Energy in the 4th quarter valued at approximately $34,243,000. Finally, Sei Investments Co. lifted its stake in shares of PBF Energy by 41.4% in the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock valued at $17,367,000 after purchasing an additional 106,819 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

About PBF Energy

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.