PBF Energy (NYSE:PBF) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of PBF Energy (NYSE:PBF) from a hold rating to a buy rating in a report published on Monday.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 price objective on the stock. BMO Capital Markets increased their price target 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. Morgan Stanley raised their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. Scotiabank lifted their price objective on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.69.

PBF Energy Price Performance

Shares of PBF Energy stock opened at $48.74 on Monday. The company’s fifty day simple moving average is $41.89 and its two-hundred day simple moving average is $38.55. PBF Energy has a 12-month low of $21.24 and a 12-month high of $52.18. The firm has a market cap of $5.77 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the company posted ($3.53) earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts expect that PBF Energy will post 8.55 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $46.94, for a total value of $9,388,000.00. Following the transaction, the insider owned 16,662,128 shares of the company’s stock, valued at approximately $782,120,288.32. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 2,591,570 shares of company stock worth $116,278,586. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of PBF. Goldman Sachs Group Inc. increased its holdings in shares of 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 purchasing an additional 3,550,820 shares during the last quarter. Invesco Ltd. boosted 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 purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC raised its position in PBF Energy by 230.7% in 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 purchasing an additional 1,454,500 shares during the period. Norges Bank bought a new stake in shares of PBF Energy during the fourth quarter worth $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after purchasing an additional 1,159,628 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.