PBF Energy (NYSE:PBF) Upgraded at 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 Wednesday.

PBF has been the subject of several other reports. Mizuho upped their price target on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group initiated coverage on PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price for the company. BMO Capital Markets lifted their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Morgan Stanley raised their price target on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Finally, Freedom Capital raised shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $42.23.

PBF Energy Price Performance

NYSE PBF opened at $65.99 on Wednesday. The business’s fifty day moving average is $45.39 and its 200 day moving average is $41.00. 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 has a fifty-two week low of $21.24 and a fifty-two week high of $66.05. The company has a market capitalization of $7.81 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter last year, the firm posted ($3.53) earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that PBF Energy will post 9.76 earnings per share for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the completion of the sale, the insider owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 3,541,570 shares of company stock worth $165,787,386. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after buying an additional 12,289 shares during the period. Acadian Asset Management LLC increased its stake in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PBF Energy in the second quarter valued at $1,143,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.