PBF Energy (NYSE:PBF) Raised to “Hold” at Wall Street Zen

PBF Energy (NYSE:PBF) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

PBF has been the topic of a number of other reports. Piper Sandler upped their price objective on PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. Cowen reaffirmed a “sell” rating on shares of PBF Energy in a report on Friday. The Goldman Sachs Group upped their price objective on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Bank of America upped their price objective on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Finally, Mizuho upped their price objective on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $27.42.

PBF Energy Stock Down 1.3%

PBF opened at $34.11 on Friday. PBF Energy has a 1-year low of $13.61 and a 1-year high of $36.67. The stock’s fifty day simple moving average is $29.85 and its 200 day simple moving average is $24.49. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.95 billion, a PE ratio of -7.34 and a beta of 0.85.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the prior year, the business earned ($1.50) EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, research analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

Insider Buying and Selling at PBF Energy

In other news, SVP Trecia M. Canty sold 50,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the sale, the senior vice president directly owned 173,332 shares of the company’s stock, valued at approximately $5,915,821.16. This represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Connor Thomas L. O sold 30,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the sale, the senior vice president directly owned 207,984 shares in the company, valued at approximately $7,071,456. This trade represents a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Several large investors have recently bought and sold shares of PBF. T. Rowe Price Investment Management Inc. boosted its stake in PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after buying an additional 3,612,447 shares in the last quarter. AQR Capital Management LLC boosted its stake in 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 valued at $45,183,000 after buying an additional 1,454,500 shares in the last quarter. Norges Bank acquired a new stake in PBF Energy in the second quarter valued at about $24,599,000. BNP Paribas Financial Markets boosted its stake in PBF Energy by 276.2% in the second quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after buying an additional 755,310 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in PBF Energy in the first quarter valued at about $13,600,000. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.