StockNews.com Begins Coverage on PBF Energy (NYSE:PBF)

StockNews.com began coverage on shares of PBF Energy (NYSE:PBF – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

A number of other research firms have also recently commented on PBF. UBS Group started coverage on PBF Energy in a report on Wednesday, March 8th. They issued a neutral rating and a $53.00 price target on the stock. Morgan Stanley boosted their price target on PBF Energy from $40.00 to $50.00 and gave the stock an equal weight rating in a report on Friday, January 20th. Wells Fargo & Company lowered their price target on PBF Energy from $59.00 to $50.00 and set an overweight rating on the stock in a report on Thursday, January 5th. JPMorgan Chase & Co. upped their price objective on PBF Energy from $42.00 to $46.00 and gave the stock an overweight rating in a report on Monday, January 9th. Finally, TheStreet cut PBF Energy from a b- rating to a c rating in a report on Friday, February 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of Hold and a consensus target price of $44.31.

PBF Energy Stock Down 0.3 %

PBF stock opened at $40.42 on Thursday. PBF Energy has a twelve month low of $20.13 and a twelve month high of $49.00. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 0.30. The stock has a market cap of $5.21 billion, a P/E ratio of 1.78 and a beta of 1.92. The business’s 50-day moving average price is $42.27 and its 200-day moving average price is $40.20.

PBF Energy (NYSE:PBF – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $4.41 EPS for the quarter, missing analysts’ consensus estimates of $4.95 by ($0.54). PBF Energy had a return on equity of 72.79% and a net margin of 6.14%. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $9.71 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, equities research analysts forecast that PBF Energy will post 10.71 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, February 28th. PBF Energy’s dividend payout ratio is currently 3.52%.

Hedge Funds Weigh In On PBF Energy

Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in shares of PBF Energy during the 3rd quarter valued at approximately $33,000. Exchange Traded Concepts LLC bought a new position in PBF Energy in the 4th quarter valued at $33,000. Financial Management Professionals Inc. bought a new position in PBF Energy in the 3rd quarter valued at $34,000. Gladius Capital Management LP bought a new position in PBF Energy in the 4th quarter valued at $40,000. Finally, Ronald Blue Trust Inc. grew its position in PBF Energy by 5,747.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,228 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 1,207 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.

About PBF Energy

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PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.