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

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

PBF has been the topic of several other research reports. Scotiabank boosted their price target on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group began coverage on shares of PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 price objective for the company. Mizuho boosted their target price on shares of PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Morgan Stanley boosted their target price 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, BMO Capital Markets increased their target price on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.46.

PBF Energy Trading Up 0.1%

Shares of PBF opened at $37.34 on Friday. The business has a 50-day moving average of $40.90 and a 200 day moving average of $37.52. PBF Energy has a fifty-two week low of $20.98 and a fifty-two week high of $52.18. The firm has a market cap of $4.42 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.12 and a beta of 0.12. 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 released its quarterly earnings data 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 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%. PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($3.53) earnings per share. As a group, research analysts forecast that PBF Energy will post 7.69 EPS for the current year.

Insider Transactions at PBF Energy

In related news, SVP James E. Fedena sold 77,085 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $49.60, for a total transaction of $3,823,416.00. Following the sale, the senior vice president owned 139,016 shares of the company’s stock, valued at approximately $6,895,193.60. This represents a 35.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $43.17, for a total transaction of $4,317,000.00. Following the sale, the insider directly owned 18,117,698 shares in the company, valued at $782,141,022.66. This trade represents a 0.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,796,225 shares of company stock worth $231,205,851. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in 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 period. Invesco Ltd. boosted its stake in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares during the period. AQR Capital Management LLC grew its position in PBF Energy by 230.7% during the second 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 in the last quarter. Norges Bank purchased a new position in PBF Energy during the fourth quarter worth about $34,243,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in PBF Energy by 2,198.8% in 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 acquiring an additional 1,159,628 shares during the last quarter. 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.