PBF Energy Inc. (NYSE:PBF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of PBF Energy Inc. (NYSE:PBF) from a buy rating to a hold rating in a report released on Friday, October 6th.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

Other research analysts also recently issued research reports about the company. Scotiabank set a $24.00 target price on PBF Energy and gave the company a buy rating in a research note on Thursday, August 3rd. Citigroup Inc. lowered their target price on PBF Energy from $37.50 to $33.50 and set a buy rating on the stock in a research note on Monday, July 17th. Cowen and Company reaffirmed a buy rating and issued a $30.00 price target on shares of PBF Energy in a research report on Thursday, August 17th. Tudor Pickering raised PBF Energy from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, BidaskClub raised PBF Energy from a sell rating to a hold rating in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. PBF Energy has a consensus rating of Hold and a consensus price target of $25.00.

PBF Energy (PBF) opened at 27.36 on Friday. The stock’s market capitalization is $3.00 billion. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98. The stock has a 50 day moving average price of $25.77 and a 200-day moving average price of $22.64.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the firm earned $0.14 EPS. Equities research analysts expect that PBF Energy will post $0.91 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “PBF Energy Inc. (NYSE:PBF) Lowered to “Hold” at Zacks Investment Research” was first reported by BBNS and is owned by of BBNS. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://baseballnewssource.com/markets/pbf-energy-inc-pbf-rating-lowered-to-hold-at-zacks-investment-research/1697940.html.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can lifted its position in shares of PBF Energy by 167.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock worth $1,673,000 after purchasing an additional 47,041 shares during the last quarter. Cadence Capital Management LLC lifted its position in shares of PBF Energy by 30.4% during the 2nd quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock worth $576,000 after purchasing an additional 6,025 shares during the last quarter. UBS Group AG lifted its position in shares of PBF Energy by 4.6% during the 1st quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock worth $1,877,000 after purchasing an additional 3,706 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of PBF Energy during the 2nd quarter worth about $1,030,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of PBF Energy by 50.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 1,580 shares during the last quarter.

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.

Get a free copy of the Zacks research report on PBF Energy (PBF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cora Becomes New Manager for Boston Red Sox
Alex Cora Becomes New Manager for Boston Red Sox
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends


Leave a Reply

 
© 2006-2017 BBNS.