PBF Energy (NYSE:PBF) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of PBF Energy (NYSE:PBFGet Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

PBF has been the subject of several other research reports. Morgan Stanley upped their price target on PBF Energy from $34.00 to $36.00 and gave the stock an equal weight rating in a research note on Friday, July 15th. Scotiabank upgraded PBF Energy from an underperform rating to a sector perform rating and increased their target price for the company from $15.00 to $27.00 in a research note on Monday, April 18th. Wolfe Research increased their target price on PBF Energy from $25.00 to $36.00 in a research note on Thursday, July 28th. Cowen increased their target price on PBF Energy from $25.00 to $32.00 in a research note on Monday. Finally, Credit Suisse Group increased their target price on PBF Energy to $37.00 in a research note on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $32.92.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $32.52 on Monday. The company has a market capitalization of $3.93 billion, a P/E ratio of 2.87 and a beta of 2.18. The business’s 50-day moving average price is $32.36 and its two-hundred day moving average price is $26.31. PBF Energy has a one year low of $7.24 and a one year high of $44.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 0.64.

PBF Energy (NYSE:PBFGet Rating) last released its quarterly earnings results on Thursday, July 28th. The oil and gas company reported $10.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $5.83. The company had revenue of $14.08 billion during the quarter, compared to the consensus estimate of $10.67 billion. PBF Energy had a return on equity of 55.28% and a net margin of 3.64%. The firm’s revenue was up 104.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.26) EPS. Analysts anticipate that PBF Energy will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 1,245,183 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $35.16, for a total value of $43,780,634.28. Following the completion of the transaction, the insider now owns 12,284,000 shares of the company’s stock, valued at approximately $431,905,440. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO C Erik Young sold 60,296 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $30.30, for a total value of $1,826,968.80. Following the completion of the transaction, the chief financial officer now directly owns 66,893 shares of the company’s stock, valued at approximately $2,026,857.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Control Empresarial De Capital sold 1,245,183 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $35.16, for a total value of $43,780,634.28. Following the completion of the transaction, the insider now directly owns 12,284,000 shares of the company’s stock, valued at $431,905,440. The disclosure for this sale can be found here. Insiders sold a total of 3,233,987 shares of company stock valued at $106,955,416 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in PBF Energy by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock worth $298,916,000 after acquiring an additional 1,077,287 shares during the last quarter. Dimensional Fund Advisors LP grew its position in PBF Energy by 14.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,501,542 shares of the oil and gas company’s stock worth $134,071,000 after acquiring an additional 707,246 shares during the last quarter. Assenagon Asset Management S.A. grew its position in PBF Energy by 195.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,756,230 shares of the oil and gas company’s stock worth $79,986,000 after acquiring an additional 1,822,773 shares during the last quarter. Invesco Ltd. grew its position in PBF Energy by 39.1% during the 4th quarter. Invesco Ltd. now owns 2,729,244 shares of the oil and gas company’s stock worth $35,399,000 after acquiring an additional 767,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PBF Energy by 16.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,633,312 shares of the oil and gas company’s stock worth $39,804,000 after acquiring an additional 236,604 shares during the last quarter. 69.95% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

(Get Rating)

PBF Energy Inc, together with 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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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