PBF Energy (NYSE:PBF) Upgraded to “Buy” at UBS Group

UBS Group upgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have $26.00 price objective on the oil and gas company’s stock, up from their previous price objective of $20.00.

A number of other analysts have also recently issued reports on the company. Mizuho decreased their target price on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler reduced their price target on PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, May 2nd. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $22.91.

PBF Energy Stock Down 2.2%

Shares of NYSE:PBF opened at $22.35 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy has a 1 year low of $13.62 and a 1 year high of $51.63. The stock has a market capitalization of $2.58 billion, a P/E ratio of -4.75 and a beta of 0.76. The stock has a 50-day simple moving average of $18.10 and a 200-day simple moving average of $24.52.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Equities analysts forecast that PBF Energy will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Thursday, May 15th. PBF Energy’s payout ratio is -12.09%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 16,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $13.88 per share, with a total value of $222,080.00. Following the transaction, the insider now owns 30,737,998 shares in the company, valued at approximately $426,643,412.24. The trade was a 0.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 331,000 shares of company stock valued at $6,075,180 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in PBF. T. Rowe Price Investment Management Inc. grew its stake in PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock worth $109,364,000 after buying an additional 3,612,447 shares during the last quarter. Norges Bank bought a new position in PBF Energy during the 4th quarter worth $20,896,000. Nuveen LLC bought a new position in PBF Energy during the 1st quarter worth $13,600,000. Deutsche Bank AG grew its stake in PBF Energy by 697.2% during the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company’s stock worth $14,976,000 after buying an additional 686,103 shares during the last quarter. Finally, Recurrent Investment Advisors LLC grew its stake in PBF Energy by 154.0% during the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company’s stock worth $25,096,000 after buying an additional 573,161 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.