PBF Energy (NYSE:PBF) Upgraded to Buy at UBS Group

PBF Energy (NYSE:PBF) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a $26.00 price objective on the oil and gas company’s stock, up from their previous price objective of $20.00. UBS Group’s price objective suggests a potential upside of 25.08% from the company’s previous close.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. TD Cowen cut their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company dropped their price target on PBF Energy from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Scotiabank decreased their price objective on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.82.

PBF Energy Trading Up 3.3%

NYSE PBF opened at $20.79 on Tuesday. PBF Energy has a 12 month low of $13.62 and a 12 month high of $51.63. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $18.01 and a 200-day moving average of $24.61. The company has a market cap of $2.40 billion, a PE ratio of -4.41 and a beta of 0.76.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 16,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $222,080.00. Following the transaction, the insider now owns 30,737,998 shares of the company’s stock, valued at approximately $426,643,412.24. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 331,000 shares of company stock valued at $6,075,180 in the last three months. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Large investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in shares of PBF Energy in the 1st quarter worth $13,600,000. Invesco Ltd. boosted its stake in PBF Energy by 13.4% in the first quarter. Invesco Ltd. now owns 1,144,734 shares of the oil and gas company’s stock valued at $21,853,000 after acquiring an additional 135,318 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in PBF Energy during the first quarter valued at $403,000. Deutsche Bank AG increased its holdings in PBF Energy by 697.2% in the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company’s stock worth $14,976,000 after acquiring an additional 686,103 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PBF Energy by 12.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock valued at $31,981,000 after purchasing an additional 182,456 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.