Tudor Pickering Lowers PBF Energy (PBF) to Hold

PBF Energy (NYSE:PBF) was downgraded by stock analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, The Fly reports.

PBF has been the subject of a number of other reports. Morgan Stanley set a $54.00 target price on shares of PBF Energy and gave the company a “sell” rating in a report on Friday, October 12th. Barclays reaffirmed a “buy” rating and issued a $62.00 target price on shares of PBF Energy in a report on Friday, January 11th. Goldman Sachs Group cut shares of PBF Energy from a “neutral” rating to a “sell” rating and dropped their target price for the company from $35.00 to $34.00 in a report on Friday, January 25th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of PBF Energy in a report on Thursday, January 10th. Finally, Credit Suisse Group dropped their target price on shares of PBF Energy from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.83.

NYSE PBF opened at $34.93 on Friday. The stock has a market cap of $4.34 billion, a P/E ratio of 30.64, a PEG ratio of 0.71 and a beta of 1.40. PBF Energy has a 52-week low of $28.25 and a 52-week high of $53.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.79 and a quick ratio of 0.83.

Several institutional investors and hedge funds have recently made changes to their positions in PBF. Acadian Asset Management LLC raised its stake in shares of PBF Energy by 48.2% in the 4th quarter. Acadian Asset Management LLC now owns 142,047 shares of the oil and gas company’s stock valued at $4,641,000 after acquiring an additional 46,190 shares during the period. Prudential Financial Inc. raised its stake in shares of PBF Energy by 53.1% in the 4th quarter. Prudential Financial Inc. now owns 1,238,091 shares of the oil and gas company’s stock valued at $40,448,000 after acquiring an additional 429,226 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of PBF Energy by 2.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 48,007 shares of the oil and gas company’s stock valued at $1,568,000 after acquiring an additional 1,341 shares during the period. Mackenzie Financial Corp raised its stake in shares of PBF Energy by 22.3% in the 4th quarter. Mackenzie Financial Corp now owns 85,815 shares of the oil and gas company’s stock valued at $2,804,000 after acquiring an additional 15,635 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of PBF Energy by 675.4% in the 4th quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 3,296 shares during the period. Institutional investors own 93.61% of the company’s stock.

About PBF Energy

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.

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