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

Wall Street Zen upgraded shares of PBF Energy (NYSE:PBF) from a hold rating to a buy rating in a research note released on Wednesday morning.

PBF has been the subject of a number of other research reports. BMO Capital Markets increased their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Mizuho boosted their target price on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. TD Cowen upped their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Finally, Scotiabank increased their price target on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $42.23.

PBF Energy Trading Down 2.6%

Shares of NYSE:PBF opened at $64.31 on Wednesday. The company has a 50 day moving average of $45.86 and a 200-day moving average of $41.26. The firm has a market cap of $7.61 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.17 and a beta of 0.11. PBF Energy has a twelve month low of $21.24 and a twelve month high of $68.33. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) 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 analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.53) earnings per share. As a group, analysts anticipate that PBF Energy will post 9.76 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.7%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. The trade was a 3.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 3,541,570 shares of company stock valued at $165,787,386. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC grew its holdings in shares of PBF Energy by 19.3% during the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock valued at $1,996,000 after buying an additional 7,107 shares in the last quarter. Parallel Advisors LLC lifted its stake in PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 242 shares in the last quarter. Bull Harbor Capital LLC purchased a new stake in PBF Energy in the 1st quarter worth about $212,000. Amundi purchased a new stake in PBF Energy in the 1st quarter worth about $1,574,000. Finally, EverSource Wealth Advisors LLC boosted its position in PBF Energy by 24.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 931 shares during the period. 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.