PBF Energy (NYSE:PBF) Trading 5.8% Higher After Analyst Upgrade

Shares of PBF Energy Inc. (NYSE:PBF) rose 5.8% on Wednesday after Freedom Capital upgraded the stock to a hold rating. The stock traded as high as $51.26 and last traded at $51.2830. Approximately 135,546 shares were traded during mid-day trading, a decline of 96% from the average session volume of 3,363,235 shares. The stock had previously closed at $48.46.

PBF has been the subject of several other research reports. TD Cowen raised shares of PBF Energy from a “sell” rating to a “hold” rating and upped their price target for the stock from $36.00 to $39.00 in a research report on Monday, June 29th. Scotiabank boosted their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Mizuho lifted their price target on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. 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. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $36.69.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 200,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 16,462,128 shares in the company, valued at approximately $808,948,969.92. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,791,570 shares of company stock worth $126,106,586 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Key Headlines Impacting PBF Energy

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

• Positive Sentiment: PBF Energy has been benefiting from stronger refining conditions, as rising oil prices, tighter fuel inventories, and improving crack spreads have boosted sentiment across refiner stocks. The company’s Martinez refinery recovery has also improved the operating outlook, which may support earnings expectations. PBF Energy Jumps as Refining-Margin Tailwinds Lift Refiner Shares
• Positive Sentiment: One recent analyst action was constructive: Freedom Capital upgraded PBF Energy to “hold,” while other commentary highlighted the stock’s growth and margin sensitivity, which can reinforce bullish trading interest. Zacks.com
• Neutral Sentiment: Market coverage noted that analysts remain divided on PBF Energy, with several ratings clustered around hold/neutral, suggesting the recent strength is driven more by industry conditions than by a broad consensus upgrade. Analysts’ Opinions Are Mixed on These Energy Stocks: PBF Energy (PBF) and Devon Energy (DVN)
• Negative Sentiment: Investor sentiment may be capped by continued insider selling: Control Empresarial De Capital sold 200,000 shares, adding to a pattern of repeated insider disposals over the past several months. Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $9,828,000.00 in Stock

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently made changes to their positions in PBF. Parallel Advisors LLC boosted its position in PBF Energy by 6.8% in the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 242 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in PBF Energy by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 260 shares during the period. Merit Financial Group LLC lifted its stake in PBF Energy by 3.4% during the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock valued at $268,000 after acquiring an additional 325 shares during the period. Next Level Private LLC boosted its holdings in shares of PBF Energy by 0.6% in the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after acquiring an additional 378 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of PBF Energy by 5.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 383 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11. The stock’s 50 day moving average price is $42.53 and its two-hundred day moving average price is $39.08. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last announced 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 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 for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted ($3.53) earnings per share. Equities research analysts forecast that PBF Energy Inc. will post 8.55 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued 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 2.1%. PBF Energy’s payout ratio is presently 29.65%.

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.