PBF Energy Inc. (NYSE:PBF) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, July 27th.
Several other research firms have also issued reports on PBF. Barclays PLC reissued an “outperform” rating on shares of PBF Energy in a report on Friday, April 14th. Vetr raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 6th. Goldman Sachs Group, Inc. (The) upgraded PBF Energy from a “sell” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $23.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Piper Jaffray Companies restated a “hold” rating and issued a $20.00 price target on shares of PBF Energy in a research note on Friday, July 14th. Finally, Credit Suisse Group downgraded PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of “Hold” and an average target price of $24.00.
PBF Energy (NYSE:PBF) opened at 21.05 on Thursday. The stock’s market cap is $2.31 billion. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The stock has a 50 day moving average of $22.19 and a 200 day moving average of $22.09.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.09. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the company earned $0.14 EPS. Equities analysts anticipate that PBF Energy will post $0.38 EPS for the current fiscal year.
In related news, CEO Thomas J. Nimbley purchased 50,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the transaction, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connor Thomas L. O purchased 10,000 shares of PBF Energy stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the transaction, the insider now owns 105,135 shares of the company’s stock, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Nomura Asset Management Co. Ltd. boosted its position in shares of PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of PBF Energy during the first quarter valued at $113,000. Creative Planning boosted its position in shares of PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares in the last quarter. Flinton Capital Management LLC bought a new position in shares of PBF Energy during the second quarter valued at $119,000. Finally, Huntington National Bank bought a new position in shares of PBF Energy during the second quarter valued at $126,000.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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