Tudor, Pickering, Holt & Co. Downgrades PBF Energy (NYSE:PBF) to Sell

PBF Energy (NYSE:PBF) was downgraded by equities researchers at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating in a report issued on Monday,Finviz reports. They currently have a $24.00 price objective on the oil and gas company’s stock. Tudor, Pickering, Holt & Co.’s target price would indicate a potential downside of 12.70% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on PBF. Piper Sandler boosted their target price on shares of PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America lifted their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Citigroup increased their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Scotiabank reiterated a “sector perform” rating and issued a $25.00 price target (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Finally, Wells Fargo & Company increased their price target on PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of “Reduce” and an average price target of $25.31.

PBF Energy Stock Performance

NYSE PBF opened at $27.49 on Monday. The stock has a market cap of $3.18 billion, a PE ratio of -3.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The firm has a 50-day moving average of $25.18 and a 200-day moving average of $21.47. PBF Energy has a 52-week low of $13.61 and a 52-week high of $34.31.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the business posted ($0.54) earnings per share. On average, sell-side analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

Institutional Trading of PBF Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in PBF Energy by 231.4% in the second quarter. Osaic Holdings Inc. now owns 6,399 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 4,468 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of PBF Energy during the 2nd quarter worth approximately $5,843,000. Kestra Investment Management LLC boosted its holdings in shares of PBF Energy by 427.4% during the 2nd quarter. Kestra Investment Management LLC now owns 4,599 shares of the oil and gas company’s stock worth $100,000 after buying an additional 3,727 shares in the last quarter. Caxton Associates LLP boosted its holdings in shares of PBF Energy by 308.5% during the 2nd quarter. Caxton Associates LLP now owns 282,434 shares of the oil and gas company’s stock worth $6,120,000 after buying an additional 213,290 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of PBF Energy by 14.0% during the 2nd quarter. Corient Private Wealth LLC now owns 12,040 shares of the oil and gas company’s stock worth $261,000 after buying an additional 1,480 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.