PBF Energy (NYSE:PBF) Stock Rating Upgraded by Zacks Research

PBF Energy (NYSE:PBF) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on PBF. Wall Street Zen upgraded PBF Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their target price on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. The Goldman Sachs Group lifted their target price on shares of PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore began coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 price target for the company. Finally, Scotiabank increased their price target on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. One 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. According to data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $45.62.

PBF Energy Trading Down 0.3%

NYSE PBF opened at $61.74 on Thursday. PBF Energy has a 1-year low of $21.24 and a 1-year high of $68.33. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $46.67 and a 200-day moving average of $41.64. The firm has a market cap of $7.30 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11.

PBF Energy (NYSE:PBF) last issued its 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 for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the company earned ($3.53) earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that PBF Energy will post 10.94 EPS for the current year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $54.52, for a total value of $5,452,000.00. Following the sale, the insider directly owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. This trade represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 3,541,570 shares of company stock valued at $165,787,386. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Leonteq Securities AG purchased a new stake in PBF Energy in the first quarter worth $33,000. Torren Management LLC bought a new stake in PBF Energy in the fourth quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new position in PBF Energy during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC increased its position in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in PBF Energy during the 4th quarter valued at $57,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy News Summary

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

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

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.