PBF Energy Inc. (PBF) Downgraded by Credit Suisse Group
PBF Energy Inc. (NYSE:PBF) was downgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, The Fly reports.
Several other research analysts also recently commented on the company. Scotiabank set a $24.00 price objective on PBF Energy and gave the stock a “buy” rating in a report on Saturday, May 6th. BidaskClub upgraded PBF Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC reiterated an “outperform” rating on shares of PBF Energy in a report on Friday, April 14th. Zacks Investment Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Finally, US Capital Advisors reiterated a “hold” rating on shares of PBF Energy in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. PBF Energy currently has an average rating of “Hold” and a consensus price target of $23.95.
Shares of PBF Energy (NYSE:PBF) opened at 22.34 on Tuesday. PBF Energy has a 12 month low of $18.48 and a 12 month high of $30.98. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 13.37 and a beta of 1.42. The company’s 50-day moving average price is $21.32 and its 200-day moving average price is $23.19.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating 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 business had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the business posted ($0.65) earnings per share. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. Analysts anticipate that PBF Energy will post $1.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 5.37%. PBF Energy’s payout ratio is presently 68.97%.
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In other PBF Energy news, CEO Thomas J. Nimbley bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, with a total value of $984,500.00. Following the completion of the purchase, the chief executive officer now directly owns 290,000 shares of the company’s stock, valued at $5,710,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Connor Thomas L. O bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $20.17 per share, for a total transaction of $201,700.00. Following the completion of the purchase, the insider now directly owns 105,135 shares of the company’s stock, valued at $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in PBF Energy during the third quarter valued at about $104,000. Huntington National Bank acquired a new stake in PBF Energy during the second quarter valued at about $109,000. Apriem Advisors boosted its stake in PBF Energy by 560.0% in the third quarter. Apriem Advisors now owns 4,950 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 4,200 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in PBF Energy during the first quarter valued at about $113,000. Finally, BKS Advisors LLC acquired a new stake in PBF Energy during the third quarter valued at about $120,000.
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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