PBF Energy Inc. (PBF) Upgraded to Hold by Tudor Pickering
PBF Energy Inc. (NYSE:PBF) was upgraded by research analysts at Tudor Pickering from a “sell” rating to a “hold” rating in a research note issued on Friday.
PBF has been the subject of several other reports. Zacks Investment Research downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Credit Suisse Group downgraded 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. Citigroup Inc. decreased their target price on PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Finally, US Capital Advisors reiterated a “hold” rating on shares of PBF Energy in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.00.
PBF Energy (PBF) traded up 3.63% during midday trading on Friday, reaching $24.54. 869,244 shares of the company were exchanged. PBF Energy has a 52 week low of $18.48 and a 52 week high of $30.98. The company has a 50-day moving average of $21.92 and a 200 day moving average of $21.93. The firm’s market capitalization is $2.69 billion. PBF Energy also saw unusually large options trading activity on Tuesday. Traders bought 8,609 put options on the stock. This is an increase of 1,397% compared to the average daily volume of 575 put options.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.03 by $0.09. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. Equities analysts predict that PBF Energy will post $0.37 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in PBF Energy by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock valued at $264,551,000 after buying an additional 953,577 shares during the period. Vanguard Group Inc. raised its position in PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after buying an additional 141,619 shares during the period. Dimensional Fund Advisors LP raised its position in PBF Energy by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock valued at $205,480,000 after buying an additional 635,728 shares during the period. BlackRock Inc. raised its position in PBF Energy by 94.0% in the second quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock valued at $202,832,000 after buying an additional 4,415,117 shares during the period. Finally, State Street Corp raised its position in PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after buying an additional 1,611,707 shares during the period.
About PBF Energy
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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