PBF Energy (NYSE:PBF) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $26.00 target price on the oil and gas company’s stock, up from their prior target price of $20.00.

A number of other equities analysts also recently issued reports on PBF. JPMorgan Chase & Co. lowered their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Piper Sandler decreased their price objective on PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective 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. Morgan Stanley decreased their price objective on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, TD Cowen decreased their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $22.91.

PBF Energy Stock Performance

Shares of PBF opened at $22.92 on Tuesday. The stock has a 50 day moving average price of $18.05 and a 200 day moving average price of $24.60. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -4.87 and a beta of 0.76. PBF Energy has a 52-week low of $13.62 and a 52-week high of $51.63.

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

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is presently -12.09%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 20,000 shares of the business’s stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $19.09 per share, for a total transaction of $381,800.00. Following the completion of the transaction, the insider now owns 30,534,998 shares of the company’s stock, valued at $582,913,111.82. The trade was a 0.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 331,000 shares of company stock worth $6,075,180 over the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Northern Trust Corp raised its position in PBF Energy by 0.8% in the first quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company’s stock worth $26,544,000 after acquiring an additional 11,499 shares in the last quarter. American Century Companies Inc. raised its position in PBF Energy by 1.7% in the first quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock worth $36,231,000 after acquiring an additional 32,285 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in PBF Energy by 146.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,371 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 2,003 shares in the last quarter. Nuveen LLC purchased a new position in PBF Energy in the first quarter worth $13,600,000. Finally, Invesco Ltd. raised its position 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 worth $21,853,000 after acquiring an additional 135,318 shares in the last quarter. Hedge funds and other institutional investors 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.