BidaskClub Lowers PBF Energy Inc. (PBF) to Sell
PBF Energy Inc. (NYSE:PBF) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
A number of other brokerages have also recently issued reports on PBF. Citigroup Inc. cut their target price on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Scotiabank set a $24.00 target price on shares of PBF Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Credit Suisse Group cut shares of 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. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price objective on shares of PBF Energy in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. PBF Energy currently has a consensus rating of “Hold” and an average price target of $23.33.
Shares of PBF Energy (NYSE:PBF) traded down 1.86% during mid-day trading on Wednesday, reaching $21.05. 2,072,195 shares of the company traded hands. The stock’s 50-day moving average is $22.19 and its 200-day moving average is $22.09. The company’s market capitalization is $2.31 billion. 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 earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities analysts predict that PBF Energy will post $0.38 EPS for the current fiscal year.
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In other PBF Energy news, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction 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 purchase, the chief executive officer now directly owns 290,000 shares in the company, valued at $5,710,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connor Thomas L. O acquired 10,000 shares of the firm’s stock in a transaction 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 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 insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Allied Advisory Services Inc. boosted its position in PBF Energy by 1.0% in the second quarter. First Allied Advisory Services Inc. now owns 17,239 shares of the oil and gas company’s stock worth $380,000 after buying an additional 177 shares during the last quarter. Clinton Group Inc. boosted its stake in PBF Energy by 0.6% in the first quarter. Clinton Group Inc. now owns 29,207 shares of the oil and gas company’s stock valued at $648,000 after buying an additional 181 shares in the last quarter. Utah Retirement Systems boosted its stake in PBF Energy by 1.0% in the second quarter. Utah Retirement Systems now owns 20,100 shares of the oil and gas company’s stock valued at $447,000 after buying an additional 200 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in PBF Energy by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 23,704 shares of the oil and gas company’s stock valued at $526,000 after buying an additional 314 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in PBF Energy by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 26,436 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 316 shares in 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.
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