PBF Energy Inc. (PBF) Lowered to Underweight at Barclays PLC
Barclays PLC cut shares of PBF Energy Inc. (NYSE:PBF) from an equal weight rating to an underweight rating in a research report released on Monday morning. The brokerage currently has $19.00 target price on the stock, down from their prior target price of $26.00.
A number of other research firms have also recently issued reports on PBF. Wolfe Research cut shares of PBF Energy from an outperform rating to a market perform rating in a research note on Monday, June 20th. Deutsche Bank AG cut their target price on shares of PBF Energy from $28.00 to $27.00 and set a hold rating for the company in a research note on Thursday, September 15th. Credit Suisse Group AG restated a buy rating and set a $32.00 target price on shares of PBF Energy in a research note on Thursday, June 16th. JPMorgan Chase & Co. restated a buy rating on shares of PBF Energy in a research note on Sunday, June 12th. Finally, Wells Fargo & Co. restated an outperform rating on shares of PBF Energy in a research note on Monday, July 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $30.00.
Shares of PBF Energy (NYSE:PBF) traded down 2.19% during mid-day trading on Monday, reaching $21.03. 200,012 shares of the company’s stock traded hands. The stock’s market cap is $2.06 billion. The firm has a 50 day moving average price of $22.34 and a 200-day moving average price of $25.67. PBF Energy has a 12 month low of $20.57 and a 12 month high of $41.75.
PBF Energy (NYSE:PBF) last posted its earnings results on Friday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by $0.73. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.06 billion. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. On average, analysts predict that PBF Energy will post ($0.29) earnings per share for the current fiscal year.
In other news, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were purchased at an average price of $21.84 per share, for a total transaction of $1,092,000.00. Following the transaction, the chief executive officer now owns 160,000 shares of the company’s stock, valued at $3,494,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Connor Thomas L. O purchased 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was purchased at an average price of $21.73 per share, for a total transaction of $217,300.00. Following the transaction, the insider now directly owns 50,000 shares in the company, valued at approximately $1,086,500. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of PBF Energy by 31.3% in the first quarter. Wellington Management Group LLP now owns 2,364,437 shares of the company’s stock worth $78,498,000 after buying an additional 564,092 shares during the period. State Street Corp increased its position in PBF Energy by 2.3% in the first quarter. State Street Corp now owns 2,176,116 shares of the company’s stock worth $72,252,000 after buying an additional 49,356 shares during the last quarter. M&T Bank Corp bought a new position in PBF Energy during the first quarter worth about $201,000. Loomis Sayles & Co. L P increased its position in PBF Energy by 57.7% in the first quarter. Loomis Sayles & Co. L P now owns 13,732 shares of the company’s stock worth $456,000 after buying an additional 5,027 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in PBF Energy by 55.0% in the first quarter. Prudential Financial Inc. now owns 250,960 shares of the company’s stock worth $8,332,000 after buying an additional 89,030 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.
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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