PBF Energy (PBF) Lifted to Outperform at Credit Suisse Group

PBF Energy (PBF) Lifted to Outperform at Credit Suisse Group

Credit Suisse Group upgraded shares of PBF Energy (NYSE:PBF) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has $42.00 target price on the oil and gas company’s stock.

Several other research analysts have also recently commented on PBF. ValuEngine cut shares of PBF Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. TheStreet cut shares of PBF Energy from a b rating to a c+ rating in a research report on Friday, February 15th. Raymond James decreased their target price on shares of PBF Energy from $41.00 to $40.00 and set an outperform rating for the company in a research report on Tuesday, April 9th. Bank of America upgraded shares of PBF Energy from an underperform rating to a neutral rating in a research report on Monday, April 29th. Finally, Tudor Pickering cut shares of PBF Energy from a buy rating to a hold rating in a research report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $49.00.

NYSE PBF traded up $0.78 on Wednesday, hitting $30.98. The stock had a trading volume of 30,032 shares, compared to its average volume of 1,780,738. PBF Energy has a one year low of $28.01 and a one year high of $53.91. The company has a current ratio of 1.53, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39.

PBF Energy (NYSE:PBF) last posted its earnings results on Wednesday, May 1st. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the company posted ($0.29) EPS. PBF Energy’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities research analysts expect that PBF Energy will post 1.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.

In other news, CEO Thomas J. Nimbley purchased 25,000 shares of PBF Energy stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $30.03 per share, for a total transaction of $750,750.00. Following the transaction, the chief executive officer now owns 365,990 shares in the company, valued at $10,990,679.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in PBF. Nordea Investment Management AB lifted its position in PBF Energy by 41.9% in the 3rd quarter. Nordea Investment Management AB now owns 176,036 shares of the oil and gas company’s stock worth $8,786,000 after buying an additional 51,936 shares in the last quarter. Vanguard Group Inc lifted its position in PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after buying an additional 1,121,082 shares in the last quarter. Retirement Systems of Alabama lifted its position in PBF Energy by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 155,444 shares of the oil and gas company’s stock worth $5,078,000 after buying an additional 564 shares in the last quarter. Meeder Asset Management Inc. lifted its position in PBF Energy by 33.0% in the 4th quarter. Meeder Asset Management Inc. now owns 15,836 shares of the oil and gas company’s stock worth $518,000 after buying an additional 3,927 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in PBF Energy in the 4th quarter worth approximately $359,000. Institutional investors own 96.87% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, together with 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.

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