PBF Energy (NYSE:PBF) Raised to “Buy” at Wall Street Zen

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

PBF has been the subject of a number of other research reports. TD Cowen raised their price objective on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, April 2nd. Evercore began coverage on PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price for the company. Finally, Citigroup raised their target price on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $43.92.

PBF Energy Stock Down 3.9%

Shares of PBF opened at $61.83 on Wednesday. The company has a 50-day simple moving average of $46.28 and a 200-day simple moving average of $41.49. The firm has a market capitalization of $7.31 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.15 and a beta of 0.11. 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 52 week low of $21.24 and a 52 week high of $68.33.

PBF Energy (NYSE:PBF) last released 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 analyst estimates of $7.32 billion. During the same period last year, the business earned ($3.53) earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that PBF Energy will post 10.94 earnings per share for the current year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the sale, the insider directly owned 15,712,128 shares of the company’s stock, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 3,541,570 shares of company stock worth $165,787,386 over the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in PBF Energy by 127.9% during 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 acquiring an additional 3,550,820 shares in the last quarter. State Street Corp boosted its stake in shares of PBF Energy by 1.3% in the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after purchasing an additional 60,294 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of PBF Energy by 147.4% in 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 last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.