PBF Energy (NYSE:PBF) Downgraded by Wall Street Zen to Hold

PBF Energy (NYSE:PBF) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other analysts have also issued reports about the company. Scotiabank raised their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research downgraded PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. BMO Capital Markets upped their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Mizuho upped their price objective on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Citigroup raised their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $36.46.

PBF Energy Trading Up 2.0%

NYSE PBF opened at $43.13 on Friday. PBF Energy has a 1 year low of $20.98 and a 1 year high of $52.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The company has a market capitalization of $5.10 billion, a PE ratio of 11.63, a P/E/G ratio of 0.14 and a beta of 0.12. The company has a fifty day moving average of $40.99 and a 200 day moving average of $37.78.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted ($3.53) earnings per share. Research analysts forecast that PBF Energy will post 7.69 earnings per share for the current year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital sold 362,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total transaction of $15,747,000.00. Following the transaction, the insider owned 18,891,698 shares in the company, valued at approximately $821,788,863. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Fedena sold 77,085 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the transaction, the senior vice president owned 139,016 shares in the company, valued at $6,895,193.60. This represents a 35.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,767,026 shares of company stock valued at $81,337,598. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 242 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PBF Energy by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock worth $326,000 after acquiring an additional 260 shares in the last quarter. Merit Financial Group LLC increased its holdings in PBF Energy by 3.4% in the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock worth $268,000 after acquiring an additional 325 shares in the last quarter. Next Level Private LLC increased its holdings in PBF Energy by 0.6% in the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after acquiring an additional 378 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 383 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.