PBF Energy Inc. (NYSE:PBF) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of PBF Energy Inc. (NYSE:PBF) from a sell rating to a hold rating in a research note published on Friday.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of PBF Energy from a hold rating to a sell rating in a research report on Thursday. Wolfe Research lowered shares of PBF Energy from an outperform rating to a market perform rating in a research report on Tuesday, July 25th. Citigroup Inc. cut their price objective on shares of PBF Energy from $37.50 to $33.50 and set a buy rating on the stock in a research report on Monday, July 17th. Piper Jaffray Companies reaffirmed a hold rating and set a $20.00 price objective on shares of PBF Energy in a research report on Friday, July 14th. Finally, Scotiabank set a $24.00 price objective on shares of PBF Energy and gave the company a buy rating in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $23.39.

Shares of PBF Energy (NYSE PBF) opened at 21.63 on Friday. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.94 and a beta of 1.39. The firm’s 50-day moving average is $22.03 and its 200 day moving average is $22.26.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.26. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.65) earnings per share. On average, analysts expect that PBF Energy will post $0.42 EPS for the current fiscal year.

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In related news, CEO Thomas J. Nimbley acquired 50,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the purchase, the chief executive officer now owns 290,000 shares in the company, valued at approximately $5,710,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connor Thomas L. O acquired 10,000 shares of the stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $20.17 per share, for a total transaction of $201,700.00. Following the purchase, the insider now owns 105,135 shares of the company’s stock, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. Company insiders own 2.55% of the company’s stock.

Large investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of PBF Energy during the first quarter valued at about $113,000. Creative Planning increased its stake in shares of PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares during the last quarter. Huntington National Bank bought a new stake in shares of PBF Energy during the second quarter valued at about $126,000. Finally, LS Investment Advisors LLC bought a new stake in shares of PBF Energy during the second quarter valued at about $188,000.

PBF Energy Company Profile

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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