PBF Energy Inc. (NYSE:PBF – Get Free Report) has been given a consensus recommendation of “Reduce” by the sixteen analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $42.2308.
Several equities research analysts have recently commented on PBF shares. Wall Street Zen raised PBF Energy from a “hold” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price on the stock. Citigroup upped their price target on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Finally, BMO Capital Markets boosted their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd.
PBF Energy Price Performance
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company posted ($3.53) earnings per share. As a group, sell-side analysts forecast that PBF Energy will post 9.76 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.7%. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.
Insiders Place Their Bets
In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the sale, the insider owned 17,142,128 shares in the company, valued at $794,709,054.08. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 3,541,570 shares of company stock worth $165,787,386 over the last 90 days. 5.50% of the stock is owned by insiders.
Institutional Investors Weigh In On PBF Energy
A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Invesco Ltd. lifted its stake in shares of PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after buying an additional 1,454,500 shares during the last quarter. Norges Bank bought a new stake in shares of PBF Energy during the 4th quarter worth about $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after buying an additional 1,159,628 shares during the period. Institutional investors own 96.29% of the company’s stock.
About PBF Energy
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.
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