PBF Energy (NYSE:PBF) Research Coverage Started at Evercore

Evercore began coverage on shares of PBF Energy (NYSE:PBF) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued an in-line rating and a $58.00 target price on the oil and gas company’s stock.

PBF has been the topic of a number of other reports. BMO Capital Markets boosted their price target on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Freedom Capital upgraded shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Morgan Stanley raised their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Mizuho boosted their target price on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Scotiabank upped their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $40.00.

PBF Energy Trading Down 0.2%

Shares of PBF stock opened at $62.63 on Friday. PBF Energy has a 1 year low of $21.24 and a 1 year high of $63.60. The firm has a market capitalization of $7.41 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11. The stock has a fifty day moving average of $44.49 and a two-hundred day moving average of $40.46. 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 issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted ($3.53) earnings per share. As a group, research analysts expect that PBF Energy will post 9.76 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Activity

In other news, insider Control Empresarial De Capital sold 570,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, the insider directly owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 3,541,570 shares of company stock valued at $165,787,386. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted 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 valued at $171,595,000 after buying an additional 3,550,820 shares in the last quarter. State Street Corp increased its position in shares of PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after acquiring an additional 60,294 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after acquiring an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of PBF Energy by 54.6% during the first 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 acquiring an additional 1,137,533 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of 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 acquiring an additional 1,651,516 shares during the period. Hedge funds and other institutional investors 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.