Wolfe Research lowered shares of PBF Energy Inc. (NYSE:PBF) from an outperform rating to a market perform rating in a report issued on Tuesday.
A number of other brokerages have also weighed in on PBF. Scotiabank set a $24.00 price objective on PBF Energy and gave the stock a buy rating in a report on Monday, June 26th. 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 report on Monday, July 17th. Zacks Investment Research raised PBF Energy from a sell rating to a hold rating in a report on Tuesday, July 18th. Credit Suisse Group lowered PBF Energy from a neutral rating to an underperform rating and set a $18.00 target price on the stock. in a report on Tuesday, June 20th. Finally, BidaskClub raised PBF Energy from a sell rating to a hold rating in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has an average rating of Hold and a consensus target price of $23.39.
PBF Energy (PBF) traded down 2.57% during midday trading on Tuesday, reaching $21.63. 2,439,278 shares of the company were exchanged. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.94 and a beta of 1.40. The company has a 50 day moving average of $22.02 and a 200-day moving average of $22.28. PBF Energy has a 52-week low of $18.48 and a 52-week high of $30.98.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.26. PBF Energy had a negative return on equity of 4.20% and a net margin of 0.95%. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company posted ($0.65) earnings per share. PBF Energy’s quarterly revenue was up 69.8% on a year-over-year basis. On average, equities research analysts anticipate that PBF Energy will post $0.42 earnings per share for the current fiscal year.
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In related news, insider Connor Thomas L. O acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the purchase, the insider now directly owns 105,135 shares in the company, valued at $2,120,572.95. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the purchase, the chief executive officer now owns 290,000 shares of the company’s stock, valued at $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its stake in 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 worth $105,000 after buying an additional 1,580 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in PBF Energy during the first quarter worth approximately $113,000. Creative Planning raised its stake in PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after buying an additional 2,503 shares during the last quarter. Huntington National Bank bought a new stake in PBF Energy during the second quarter worth approximately $126,000. Finally, LS Investment Advisors LLC bought a new stake in PBF Energy during the second quarter worth approximately $188,000.
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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