PBF Energy Inc. (NYSE:PBF) Given Average Rating of “Reduce” by Brokerages

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus recommendation of “Reduce” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.00.

A number of brokerages have recently issued reports on PBF. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the company from $27.00 to $20.00 in a report on Friday, December 20th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $31.00 in a report on Monday, December 16th. StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $39.00 to $34.00 in a report on Monday, December 9th.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 57,000 shares of PBF Energy stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the transaction, the insider now directly owns 26,739,498 shares in the company, valued at $847,642,086.60. This represents a 0.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 1,968,500 shares of company stock worth $58,476,810 over the last quarter. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Institutional investors have recently made changes to their positions in the business. Neo Ivy Capital Management purchased a new stake in shares of PBF Energy during the third quarter worth about $2,404,000. Dakota Wealth Management purchased a new position in PBF Energy during the 3rd quarter valued at approximately $694,000. Intech Investment Management LLC grew its holdings in PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after buying an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of PBF Energy by 40.5% in the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after purchasing an additional 26,952 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 0.1 %

Shares of NYSE:PBF opened at $28.73 on Friday. The company has a market cap of $3.31 billion, a P/E ratio of -11.09 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88. The stock’s fifty day moving average price is $28.58 and its 200-day moving average price is $31.44.

About PBF Energy

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.