PBF Energy (NYSE:PBF) Upgraded 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 report released on Saturday morning.

A number of other analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a research report on Monday, December 8th. The Goldman Sachs Group lifted their price objective on PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. BMO Capital Markets raised their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $32.92.

PBF Energy Price Performance

PBF opened at $46.34 on Friday. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of -31.52, a PEG ratio of 0.56 and a beta of 0.25. PBF Energy has a 1 year low of $13.61 and a 1 year high of $52.18. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $40.05 and a 200 day moving average price of $34.65.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned ($2.82) earnings per share. Analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 1,100,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the transaction, the insider directly owned 22,996,898 shares in the company, valued at $1,062,686,656.58. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 11,316,825 shares of company stock worth $492,838,557 in the last 90 days. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently made changes to their positions in PBF. Goldman Sachs Group Inc. increased its stake in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. increased its stake in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC increased its stake in shares of PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 1,454,500 shares during the period. Norges Bank bought a new position in shares of PBF Energy in the fourth quarter worth about $34,243,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after purchasing an additional 1,159,628 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.