PBF Energy (NYSE:PBF) Coverage Initiated by Analysts at Evercore

Evercore initiated coverage on shares of PBF Energy (NYSE:PBF) in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage issued an in-line rating and a $58.00 price objective on the oil and gas company’s stock.

A number of other brokerages have also recently commented on PBF. Mizuho increased their target price on shares of PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Freedom Capital upgraded shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen cut PBF Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, PBF Energy has an average rating of “Reduce” and a consensus price target of $40.00.

PBF Energy Trading Up 2.8%

Shares of PBF Energy stock opened at $62.63 on Friday. The firm has a market capitalization of $7.41 billion, a PE ratio of 16.88, a P/E/G ratio of 0.16 and a beta of 0.11. PBF Energy has a twelve month low of $21.24 and a twelve month high of $63.60. The firm’s 50-day moving average price is $44.49 and its 200 day moving average price is $40.36. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.53) EPS. On average, sell-side analysts predict that PBF Energy will post 9.76 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the transaction, the insider owned 15,712,128 shares of the company’s stock, valued at approximately $856,625,218.56. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,541,570 shares of company stock valued at $165,787,386 over the last three months. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of PBF Energy by 81.7% during the fourth quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after purchasing an additional 30,430 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of PBF Energy in the fourth quarter valued at $1,485,000. Jefferies Financial Group Inc. grew its position in shares of PBF Energy by 7,210.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock valued at $17,037,000 after purchasing an additional 619,622 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in PBF Energy by 351.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company’s stock valued at $7,200,000 after purchasing an additional 206,666 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.