PBF Energy Inc. (PBF) Downgraded by Credit Suisse Group AG to Neutral
Other research analysts have also issued research reports about the company. Tudor Pickering lowered PBF Energy from a buy rating to a hold rating in a report on Monday, August 8th. Barclays PLC reiterated an equal weight rating and set a $26.00 price target on shares of PBF Energy in a report on Monday, August 1st. Wolfe Research lowered PBF Energy from an outperform rating to a market perform rating in a report on Monday, June 20th. Goldman Sachs Group Inc. lowered PBF Energy from a buy rating to a neutral rating and reduced their price target for the stock from $37.00 to $26.00 in a report on Wednesday, June 29th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of PBF Energy in a report on Monday, July 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $30.00.
PBF Energy (NYSE:PBF) traded down 3.73% during mid-day trading on Tuesday, reaching $19.85. 915,989 shares of the company were exchanged. PBF Energy has a 1-year low of $19.61 and a 1-year high of $41.75. The stock’s 50-day moving average price is $22.28 and its 200-day moving average price is $25.64. The stock’s market capitalization is $1.94 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.87 by $0.73. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that PBF Energy will post ($0.29) EPS for the current fiscal year.
In other news, insider Connor Thomas L. O acquired 10,000 shares of PBF Energy stock in a transaction on Friday, September 9th. The stock was bought at an average price of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the purchase, the insider now owns 50,000 shares in the company, valued at $1,086,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the purchase, the chief executive officer now owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The disclosure for this purchase can be found here. Corporate insiders own 5.70% of the company’s stock.
A number of large investors have recently modified their holdings of PBF. Acrospire Investment Management LLC purchased a new stake in shares of PBF Energy during the first quarter worth $130,000. US Bancorp DE boosted its stake in shares of PBF Energy by 1.2% in the second quarter. US Bancorp DE now owns 4,437 shares of the company’s stock worth $106,000 after buying an additional 53 shares in the last quarter. Huntington National Bank purchased a new stake in shares of PBF Energy during the second quarter worth $109,000. M&T Bank Corp purchased a new stake in shares of PBF Energy during the first quarter worth $201,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of PBF Energy during the second quarter worth $175,000. 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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