PBF Energy (NYSE:PBF) Upgraded at Zacks Research

Zacks Research upgraded shares of PBF Energy (NYSE:PBF) from a strong sell rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Piper Sandler upped their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. TD Cowen reiterated a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. Citigroup boosted their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $30.21.

PBF Energy Stock Up 1.4%

PBF Energy stock opened at $34.37 on Thursday. PBF Energy has a 1-year low of $13.61 and a 1-year high of $41.47. The business has a fifty day moving average price of $31.03 and a 200-day moving average price of $30.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -23.38, a PEG ratio of 4.36 and a beta of 0.50.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.82) EPS. Equities research analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is currently -74.83%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 480,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $35.07, for a total value of $16,833,600.00. Following the completion of the transaction, the insider owned 29,583,498 shares of the company’s stock, valued at $1,037,493,274.86. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 2,385,879 shares of company stock worth $82,719,180. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of PBF Energy in the 3rd quarter valued at $10,207,000. Nomura Holdings Inc. purchased a new position in PBF Energy in the second quarter valued at $5,843,000. Allianz Asset Management GmbH raised its position in shares of PBF Energy by 1,232.0% in the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock worth $8,058,000 after acquiring an additional 247,039 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of PBF Energy by 264.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock worth $2,922,000 after acquiring an additional 70,312 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of PBF Energy during the 3rd quarter worth about $3,890,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.