PBF Energy (NYSE:PBF) Upgraded to Hold at Freedom Capital

Freedom Capital upgraded shares of PBF Energy (NYSE:PBF) to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Mizuho upped their target price on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on PBF Energy in a research note on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. TD Cowen upgraded PBF Energy from a “sell” rating to a “hold” rating and lifted their price objective for the company from $36.00 to $39.00 in a report on Monday, June 29th. Citigroup increased their target price on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Morgan Stanley raised their target price on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $36.69.

PBF Energy Price Performance

Shares of PBF stock opened at $52.89 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The company has a market capitalization of $6.26 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.14 and a beta of 0.11. The company’s 50-day simple moving average is $42.29 and its two-hundred day simple moving average is $38.89. PBF Energy has a one year low of $21.24 and a one year high of $53.18.

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

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s payout ratio is presently 29.65%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 200,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $49.14, for a total transaction of $9,828,000.00. Following the sale, the insider owned 16,462,128 shares of the company’s stock, valued at $808,948,969.92. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 2,791,570 shares of company stock worth $126,106,586. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently modified their holdings of PBF. Goldman Sachs Group Inc. boosted its stake in 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 valued at $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. State Street Corp grew its stake in PBF Energy by 1.3% during the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after buying an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in PBF Energy by 11.6% during 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 buying an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after buying an additional 1,137,533 shares in the last quarter. Finally, Invesco Ltd. increased its position in 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 valued at $83,639,000 after buying an additional 1,651,516 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Trending Headlines about PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF Energy is benefiting from rising refining margins after oil prices jumped on renewed Middle East tensions, while fresh U.S. gasoline and distillate inventory draws suggest product markets remain tight. Article Title
• Positive Sentiment: Sentiment was also helped by a better operating backdrop at the Martinez refinery, which PBF said was moving toward full planned rates, improving expectations for summer throughput and profitability. Article Title
• Positive Sentiment: Recent analyst commentary highlighted strong margins, high earnings sensitivity to crack spreads, and the possibility of substantial free cash flow this year, which may be supporting the stock. Article Title

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.