PBF Energy (NYSE:PBF) Hits New 12-Month High Following Analyst Upgrade

PBF Energy Inc. (NYSE:PBF)’s stock price reached a new 52-week high on Thursday after Weiss Ratings upgraded the stock from a buy (b-) rating to a buy (b) rating. The stock traded as high as $85.75 and last traded at $83.4930, with a volume of 2,282,448 shares traded. The stock had previously closed at $82.88.

A number of other equities research analysts also recently commented on the stock. TD Cowen restated a “hold” rating on shares of PBF Energy in a research report on Thursday, October 1st. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Mizuho lifted their price objective on shares of PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.55.

Insider Activity

In other PBF Energy news, Director Thomas Nimbley sold 468,139 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total value of $32,554,386.06. Following the completion of the sale, the director directly owned 793,737 shares of the company’s stock, valued at $55,196,470.98. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Lucey sold 225,473 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the transaction, the chief executive officer owned 495,771 shares in the company, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,196,374 shares of company stock worth $303,792,637. 5.50% of the stock is currently owned by insiders.

PBF Energy News Roundup

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

• Positive Sentiment: Mizuho raised its price target to $89 from $65 while maintaining a neutral rating, implying limited additional upside but acknowledging PBF Energy’s strong recent performance. Related market article
• Positive Sentiment: PBF Energy’s latest reported quarter showed exceptionally strong operating momentum, with adjusted earnings of $7.54 per share and a gross refining margin of $23.40 per barrel. The company is scheduled to report third-quarter results on October 29.
• Positive Sentiment: Several major institutional investors increased their PBF positions in the second quarter, including FMR, AQR, BlackRock and T. Rowe Price. PBF also trades at a relatively low valuation, with a reported forward earnings multiple below 8.
• Neutral Sentiment: President Donald Trump said Russia may send millions of tons of diesel to global markets. Increased diesel availability could ease fuel prices, but it may also affect refined-product prices and refining margins; the impact on PBF Energy is uncertain. Trump says Russia may send diesel article
• Negative Sentiment: There was no new company-specific operational problem identified. The decline appears tied largely to profit-taking after a substantial refining-sector advance, softer crude prices and concerns that unusually high crack spreads may not persist until the next earnings report.
• Negative Sentiment: Insider selling remains a notable concern. Control Empresarial De Capital sold 120,000 shares for approximately $10.1 million and has made multiple recent sales. Quiver data also indicates 64 insider sales and no purchases over the past six months, potentially signaling that some insiders view the recent rally as an opportunity to lock in gains. PBF insider sale article
• Negative Sentiment: PBF Energy’s previously issued $500 million of 0% exchangeable notes due 2032 could create future dilution or capital-structure concerns, adding caution after the stock’s rapid appreciation.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently bought and sold shares of PBF. Parallel Advisors LLC increased its holdings in shares of PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 242 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares during the period. Janney Montgomery Scott LLC lifted its stake in PBF Energy by 5.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 383 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in PBF Energy by 3.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company’s stock valued at $682,000 after purchasing an additional 441 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in PBF Energy by 4.1% in the 4th quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $73.74 and a 200 day moving average of $55.94. The stock has a market cap of $9.98 billion, a PE ratio of 7.45, a P/E/G ratio of 0.07 and a beta of 0.18.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the firm earned ($1.03) EPS. PBF Energy’s revenue was up 56.2% on a year-over-year basis. Equities analysts predict that PBF Energy Inc. will post 24.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.2750 per share. The ex-dividend date was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. PBF Energy’s payout ratio is presently 9.73%.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.