PBF Energy Inc. (PBF) Stock Rating Lowered by Barclays PLC
PBF Energy Inc. (NYSE:PBF) was downgraded by equities research analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday. They presently have a $19.00 price objective on the stock, down from their prior price objective of $26.00. Barclays PLC’s target price suggests a potential downside of 11.63% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Tudor Pickering cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of PBF Energy in a research report on Sunday, June 12th. Credit Suisse Group AG reiterated a “buy” rating and set a $32.00 target price on shares of PBF Energy in a research report on Thursday, June 16th. Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Finally, Goldman Sachs Group Inc. lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $26.00 in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.00.
Shares of PBF Energy (NYSE:PBF) traded down 0.97% during trading on Monday, reaching $21.50. 1,790,697 shares of the company’s stock traded hands. PBF Energy has a 52-week low of $20.57 and a 52-week high of $41.75. The company’s market cap is $2.10 billion. The company’s 50-day moving average is $22.38 and its 200 day moving average is $25.85.
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PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.87 by $0.73. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. PBF Energy’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. Equities analysts forecast that PBF Energy will post ($0.29) EPS for the current year.
In other news, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the acquisition, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $1,086,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 160,000 shares in the company, valued at $3,494,400. The disclosure for this purchase can be found here. Corporate insiders own 5.70% of the company’s stock.
A number of large investors have recently bought and sold shares of PBF. Wolverine Asset Management LLC purchased a new stake in PBF Energy during the second quarter worth approximately $594,000. Stifel Financial Corp raised its stake in PBF Energy by 98.5% in the second quarter. Stifel Financial Corp now owns 17,608 shares of the company’s stock worth $419,000 after buying an additional 8,739 shares in the last quarter. Amalgamated Bank raised its stake in PBF Energy by 5.1% in the second quarter. Amalgamated Bank now owns 11,818 shares of the company’s stock worth $269,000 after buying an additional 570 shares in the last quarter. American Century Companies Inc. purchased a new stake in PBF Energy during the second quarter worth approximately $250,000. Finally, Legal & General Group Plc raised its stake in PBF Energy by 21.5% in the second quarter. Legal & General Group Plc now owns 102,311 shares of the company’s stock worth $2,428,000 after buying an additional 18,134 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.
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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