PBF Energy (NYSE:PBF) Rating Increased to Hold at Freedom Capital

PBF Energy (NYSE:PBF) was upgraded by research analysts at Freedom Capital to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on PBF. Mizuho boosted their price objective on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Wall Street Zen upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank boosted 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 note on Wednesday, April 22nd. Finally, Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and an average target price of $36.69.

PBF Energy Stock Up 9.1%

NYSE PBF opened at $52.89 on Tuesday. The stock has a fifty day moving average of $42.29 and a 200-day moving average of $38.89. The stock has a market capitalization of $6.26 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. PBF Energy has a 52 week low of $21.24 and a 52 week high of $53.18. 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 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). The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.53) EPS. On average, equities research analysts forecast that PBF Energy will post 8.55 EPS for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital sold 570,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 2,791,570 shares of company stock worth $126,106,586. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in 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 worth $590,000 after purchasing an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of PBF Energy by 4.9% in the 1st 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 valued at $4,996,000 after buying an additional 12,289 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of 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 buying an additional 2,354 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in PBF Energy during the 2nd quarter worth $1,143,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.