Wall Street Zen Downgrades PBF Energy (NYSE:PBF) to Hold

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

Several other research firms have also recently commented on PBF. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Morgan Stanley boosted their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. BMO Capital Markets raised their target price on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd. Mizuho lifted their target price on shares of PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Freedom Capital raised shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $36.69.

PBF Energy Stock Performance

NYSE PBF opened at $57.31 on Tuesday. The firm has a market cap of $6.78 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.16 and a beta of 0.11. PBF Energy has a 52-week low of $21.24 and a 52-week high of $58.07. The business’s 50-day moving average price is $43.01 and its 200 day moving average price is $39.49. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the company earned ($3.53) earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that PBF Energy will post 8.26 earnings per share for the current year.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 270,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $53.18, for a total transaction of $14,358,600.00. Following the transaction, the insider directly owned 15,812,128 shares in the company, valued at approximately $840,888,967.04. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 3,441,570 shares of company stock worth $160,335,386 over the last quarter. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 242 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PBF Energy by 3.9% during 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 purchasing an additional 260 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of PBF Energy by 3.4% during the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock worth $268,000 after buying an additional 325 shares in the last quarter. Next Level Private LLC grew its holdings in shares of PBF Energy by 0.6% during the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after buying an additional 378 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of PBF Energy by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 383 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.