PBF Energy (NYSE:PBF) Stock Moved Up to “Hold” by Freedom Broker

PBF Energy (NYSE:PBF) was upgraded by analysts at Freedom Broker from a “sell” rating to a “hold” rating in a research report issued on Monday, Benzinga reports. The brokerage currently has a $63.00 price target on the oil and gas company’s stock, up from their prior price target of $55.00. Freedom Broker‘s price objective would indicate a potential downside of 15.81% from the company’s current price.

Other equities analysts have also issued reports about the company. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Morgan Stanley raised their price target on PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a report on Monday, September 14th. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. TD Cowen upped their price objective on PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 22nd. Finally, UBS Group reiterated a “buy” rating and set a $99.00 target price on shares of PBF Energy in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.50.

PBF Energy Price Performance

Shares of NYSE:PBF traded down $3.17 during midday trading on Monday, reaching $74.83. 3,050,186 shares of the company were exchanged, compared to its average volume of 3,332,205. The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $77.37 and its two-hundred day moving average is $53.50. PBF Energy has a one year low of $25.62 and a one year high of $92.46. The stock has a market cap of $8.87 billion, a PE ratio of 3.34, a price-to-earnings-growth ratio of 0.09 and a beta of 0.18.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, topping the consensus estimate of $11.12 by $1.66. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.52) EPS. As a group, analysts predict that PBF Energy will post 24.77 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 170,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $88.03, for a total value of $14,965,100.00. Following the completion of the sale, the insider directly owned 13,326,127 shares of the company’s stock, valued at $1,173,098,959.81. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Nimbley sold 116,008 shares of PBF Energy stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,938,006 shares of company stock worth $219,220,509. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Large investors have recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in PBF Energy in the 1st quarter worth about $33,000. Mather Group LLC. bought a new stake in PBF Energy in the third quarter worth about $37,000. Carolina Wealth Advisors LLC bought a new stake in PBF Energy in the third quarter worth about $44,000. IFP Advisors Inc boosted its position in shares of PBF Energy by 68.7% during the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 591 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of PBF Energy by 148.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,094 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 653 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.