PBF Energy (NYSE:PBF) Now Covered by Analysts at Bank of America

by · The Markets Daily

Bank of America initiated coverage on shares of PBF Energy (NYSE:PBF – Free Report) in a research report sent to investors on Thursday, MarketBeat.com reports. The firm issued an underperform rating and a $25.00 price objective on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the company. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Wolfe Research initiated coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group dropped their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and a consensus target price of $36.09.

Check Out Our Latest Report on PBF

PBF Energy Trading Up 3.8 %

Shares of NYSE PBF opened at $33.62 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.99 billion, a PE ratio of 2.33 and a beta of 1.55. The company has a 50-day moving average of $33.19 and a two-hundred day moving average of $42.68. PBF Energy has a 1-year low of $30.17 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts expect that PBF Energy will post -0.05 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 50,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the purchase, the insider now owns 18,179,598 shares of the company’s stock, valued at approximately $647,193,688.80. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired 3,952,300 shares of company stock valued at $129,050,026 in the last quarter. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in PBF Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after acquiring an additional 69,422 shares during the period. Acadian Asset Management LLC lifted its position in PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after acquiring an additional 347,268 shares during the period. LSV Asset Management lifted its position in PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after acquiring an additional 34,470 shares during the period. American Century Companies Inc. lifted its position in PBF Energy by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after acquiring an additional 32,862 shares during the period. Finally, AQR Capital Management LLC lifted its position in PBF Energy by 14.8% during the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after acquiring an additional 84,532 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

(Get Free Report)

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.

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