PBF Energy (NYSE:PBF) Now Covered by Evercore

Evercore initiated coverage on shares of PBF Energy (NYSE:PBF) in a research report issued to clients and investors on Friday. The firm set an “in-line” rating and a $58.00 price target on the oil and gas company’s stock. Evercore’s price target indicates a potential downside of 4.77% from the stock’s previous close.

A number of other research firms have also recently weighed in on PBF. BMO Capital Markets increased their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Scotiabank increased their price target on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Freedom Capital upgraded shares of PBF Energy to a “hold” rating in a research report on Tuesday, July 7th. Finally, Citigroup upped their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and a consensus price target of $40.00.

PBF Energy Stock Performance

Shares of PBF opened at $60.91 on Friday. PBF Energy has a 1 year low of $21.24 and a 1 year high of $61.58. The stock has a market capitalization of $7.21 billion, a PE ratio of 16.42, a PEG ratio of 0.15 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The stock has a 50-day simple moving average of $44.05 and a 200-day simple moving average of $40.20.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during 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%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned ($3.53) EPS. On average, analysts predict that PBF Energy will post 9.76 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares in the company, valued at $794,709,054.08. The trade was a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 3,541,570 shares of company stock worth $165,787,386. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PBF Energy

A number of large investors have recently made changes to their positions in PBF. Goldman Sachs Group Inc. grew its holdings in shares of PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after buying an additional 3,550,820 shares in the last quarter. State Street Corp raised its position in shares of PBF Energy by 1.3% in the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after buying an additional 60,294 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares during the period. Finally, Invesco Ltd. increased its position in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares in the last quarter. Institutional investors and hedge funds 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.