UBS Group Upgrades PBF Energy (NYSE:PBF) to Buy

UBS Group upgraded shares of PBF Energy (NYSE:PBF - Free Report) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat reports. They currently have $26.00 target price on the oil and gas company's stock, up from their prior target price of $20.00.

Several other equities analysts have also recently commented on PBF. TD Cowen cut their target price on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, March 11th. Mizuho lowered their target price on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, April 1st. Scotiabank decreased their price objective on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Morgan Stanley reduced their target price on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.91.

PBF Energy Price Performance

Shares of NYSE PBF traded down $0.06 during midday trading on Tuesday, reaching $22.35. The company's stock had a trading volume of 1,644,650 shares, compared to its average volume of 2,499,047. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $18.10 and a 200 day moving average price of $24.52. PBF Energy has a one year low of $13.62 and a one year high of $51.63. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -4.74 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last released 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. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm's revenue was down 18.3% compared to the same quarter last year. On average, equities research analysts expect that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Thursday, May 15th. PBF Energy's payout ratio is -12.09%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital acquired 15,000 shares of the stock in a transaction on Tuesday, April 15th. The shares were purchased at an average price of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the acquisition, the insider now owns 30,774,998 shares in the company, valued at approximately $444,390,971.12. This represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 331,000 shares of company stock worth $6,075,180. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. boosted its position in shares of PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after acquiring an additional 3,612,447 shares during the period. Norges Bank purchased a new position in shares of PBF Energy in the fourth quarter worth $20,896,000. Nuveen LLC purchased a new position in PBF Energy during the 1st quarter valued at $13,600,000. Deutsche Bank AG increased its position in PBF Energy by 697.2% during the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after purchasing an additional 686,103 shares during the period. Finally, Recurrent Investment Advisors LLC boosted its holdings in shares of PBF Energy by 154.0% during the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after buying an additional 573,161 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

PBF Energy Company Profile

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.