Barclays Initiates Coverage on PBF Energy (NYSE:PBF)

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Equities researchers at Barclays assumed coverage on shares of PBF Energy (NYSE:PBF) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set an “overweight” rating on the oil and gas company’s stock.

Several other research analysts also recently commented on the stock. Wells Fargo & Co raised their price target on shares of PBF Energy from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Royal Bank of Canada reissued a “hold” rating and issued a $32.00 price target on shares of PBF Energy in a report on Sunday, December 22nd. Raymond James reissued an “outperform” rating and issued a $39.00 price target (up from $34.00) on shares of PBF Energy in a report on Friday, November 1st. JPMorgan Chase & Co. set a $30.00 price target on shares of PBF Energy and gave the company a “sell” rating in a report on Friday, November 1st. Finally, ValuEngine downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. PBF Energy presently has a consensus rating of “Buy” and a consensus price target of $37.22.

Shares of NYSE:PBF opened at $33.29 on Tuesday. The firm has a fifty day moving average price of $31.30 and a two-hundred day moving average price of $28.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.56 and a quick ratio of 0.64. PBF Energy has a one year low of $21.09 and a one year high of $37.03. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.07 and a beta of 1.58.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.07. PBF Energy had a negative net margin of 0.36% and a positive return on equity of 4.77%. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period last year, the firm earned $1.13 EPS. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities research analysts expect that PBF Energy will post 0.87 EPS for the current fiscal year.

In related news, insider Carso S.A. De C.V. Inversora acquired 811,427 shares of the stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $30.97 per share, for a total transaction of $25,129,894.19. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 2,292,385 shares of company stock worth $71,434,520. Corporate insiders own 3.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in PBF Energy in the 3rd quarter worth $52,000. NewSquare Capital LLC purchased a new position in PBF Energy in the 2nd quarter worth $90,000. Ladenburg Thalmann Financial Services Inc. raised its position in PBF Energy by 15.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,757 shares of the oil and gas company’s stock worth $206,000 after purchasing an additional 902 shares during the period. Starfire Investment Advisers Inc. purchased a new position in PBF Energy in the 3rd quarter worth $213,000. Finally, Tower Research Capital LLC TRC raised its position in PBF Energy by 362.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,472 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 6,640 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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