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

PBF Energy (NYSE:PBF) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other equities analysts have also issued research reports about the company. Citigroup raised their price target on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Mizuho upped their price objective on shares of PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. TD Cowen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and increased their target price for the stock from $36.00 to $39.00 in a report on Monday, June 29th. The Goldman Sachs Group began coverage on shares of PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price on the stock. Finally, Scotiabank upped their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $36.69.

PBF Energy Stock Performance

NYSE:PBF opened at $47.78 on Monday. The firm has a market capitalization of $5.65 billion, a PE ratio of 12.88, a PEG ratio of 0.14 and a beta of 0.11. The stock’s fifty day moving average is $41.73 and its 200 day moving average is $38.39. PBF Energy has a fifty-two week low of $21.24 and a fifty-two week high of $52.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31.

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

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the firm’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 directly owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,461,570 shares of company stock valued at $110,187,586. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the company. Torren Management LLC purchased a new position in PBF Energy in the 4th quarter worth approximately $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy in the fourth quarter valued at approximately $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy in the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its holdings in shares of PBF Energy by 65.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of PBF Energy in the fourth quarter valued at approximately $57,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.