PBF Energy (NYSE:PBF) Rating Increased to Hold at Wall Street Zen

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

Other research analysts also recently issued reports about the company. Citigroup lifted their target price on PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. TD Cowen lifted their target price on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of PBF Energy in a research note on Wednesday, October 8th. Morgan Stanley set a $27.00 price target on PBF Energy and gave the stock an “underweight” rating in a report on Friday, October 3rd. Finally, UBS Group lifted their price target on PBF Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Strong Sell” and an average target price of $27.42.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $34.11 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. PBF Energy has a 12 month low of $13.61 and a 12 month high of $36.67. The stock has a 50 day moving average of $29.85 and a 200-day moving average of $24.35. The company has a market capitalization of $3.95 billion, a P/E ratio of -7.34 and a beta of 0.85.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.87% and a negative net margin of 1.78%.The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the previous year, the company posted ($1.50) EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, equities research analysts predict that PBF Energy will post -1.12 EPS for the current year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.13, for a total value of $1,706,500.00. Following the completion of the transaction, the senior vice president directly owned 173,332 shares of the company’s stock, valued at $5,915,821.16. The trade was a 22.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the senior vice president directly owned 207,984 shares of the company’s stock, valued at $7,071,456. This represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. MassMutual Private Wealth & Trust FSB raised its holdings in PBF Energy by 761.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,248 shares in the last quarter. Allworth Financial LP raised its holdings in PBF Energy by 194.3% in the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PBF Energy in the 1st quarter valued at $35,000. Deseret Mutual Benefit Administrators raised its holdings in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in PBF Energy in the 1st quarter valued at $37,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

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.