PBF Energy (NYSE:PBF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PBF Energy (NYSE:PBF) from a buy rating to a strong-buy rating in a report released on Saturday.

A number of other equities analysts have also recently commented on PBF. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Evercore assumed coverage on PBF Energy in a research note on Friday, July 17th. They set an “in-line” rating and a $58.00 target price for the company. Citigroup raised their price target on shares of PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. Finally, The Goldman Sachs Group raised their target price on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $46.31.

PBF Energy Stock Down 6.3%

PBF stock opened at $67.74 on Friday. PBF Energy has a 1-year low of $21.46 and a 1-year high of $74.74. The firm has a market capitalization of $8.01 billion, a PE ratio of 5.99, a PEG ratio of 0.12 and a beta of 0.10. The business’s 50 day simple moving average is $49.75 and its 200 day simple moving average is $43.23. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the firm posted ($1.03) EPS. PBF Energy’s quarterly revenue was up 56.2% on a year-over-year basis. As a group, research analysts anticipate that PBF Energy will post 10.94 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.275 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.6%. PBF Energy’s payout ratio is presently 9.73%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 490,000 shares of PBF Energy stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the sale, the insider owned 14,992,128 shares in the company, valued at $1,068,339,041.28. The trade was a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 3,466,570 shares of company stock worth $179,821,556. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of 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 during the last quarter. State Street Corp increased its holdings 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 purchasing an additional 60,294 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PBF Energy by 54.6% in 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 purchasing an additional 1,137,533 shares in the last quarter. Finally, Invesco Ltd. boosted its position 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 buying an additional 1,651,516 shares during the last quarter. 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.