PBF Energy (NYSE:PBF) Upgraded by Freedom Capital to Hold Rating

PBF Energy (NYSE:PBF) was upgraded by analysts at Freedom Capital to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on PBF. The Goldman Sachs Group started coverage on shares of PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Citigroup boosted their price target on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Scotiabank upped their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen upgraded PBF Energy from a “sell” rating to a “hold” rating and increased their price objective for the stock from $36.00 to $39.00 in a report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $36.69.

PBF Energy Stock Performance

Shares of PBF stock opened at $52.89 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The company has a market capitalization of $6.26 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. The company’s 50 day moving average price is $42.29 and its two-hundred day moving average price is $38.89. PBF Energy has a 52 week low of $21.24 and a 52 week high of $53.18.

PBF Energy (NYSE:PBF) last released 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). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the company earned ($3.53) EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that PBF Energy will post 8.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction on Monday, June 29th. The shares were sold at an average price of $46.36, for a total value of $26,425,200.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 2,791,570 shares of company stock valued at $126,106,586 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in 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 worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. Invesco Ltd. increased its position in shares of PBF Energy by 147.4% during the 3rd 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 last quarter. AQR Capital Management LLC increased its position in shares of PBF Energy by 230.7% during the 2nd 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 last quarter. Norges Bank bought a new stake in shares of PBF Energy during the 4th quarter worth approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of PBF Energy by 2,198.8% during the 3rd 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 in the last quarter. Institutional investors own 96.29% of the company’s stock.

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.