PBF Energy Inc. (PBF) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of PBF Energy Inc. (NYSE:PBF) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “
A number of other analysts have also recently weighed in on the stock. Piper Jaffray Companies restated a hold rating and issued a $20.00 price target on shares of PBF Energy in a report on Friday, July 14th. Credit Suisse Group cut shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 price target on the stock. in a report on Tuesday, June 20th. Tudor Pickering upgraded shares of PBF Energy from a sell rating to a hold rating in a report on Friday, September 1st. ValuEngine upgraded shares of PBF Energy from a sell rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub cut shares of PBF Energy from a hold rating to a sell rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $24.30.
PBF Energy (NYSE:PBF) opened at 26.38 on Friday. The stock has a 50 day moving average of $24.65 and a 200 day moving average of $22.41. PBF Energy has a 52 week low of $18.48 and a 52 week high of $30.98. The company’s market cap is $2.89 billion.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, analysts expect that PBF Energy will post $0.85 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in PBF. Great West Life Assurance Co. Can boosted its stake in PBF Energy by 13.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,156 shares of the oil and gas company’s stock worth $622,000 after purchasing an additional 3,295 shares in the last quarter. US Bancorp DE boosted its stake in PBF Energy by 35.6% in the 1st quarter. US Bancorp DE now owns 8,928 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 2,346 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in PBF Energy by 36.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 116,373 shares of the oil and gas company’s stock worth $2,580,000 after purchasing an additional 30,997 shares in the last quarter. Karp Capital Management Corp acquired a new stake in PBF Energy in the 1st quarter worth approximately $391,000. Finally, Stifel Financial Corp boosted its stake in PBF Energy by 9.0% in the 1st quarter. Stifel Financial Corp now owns 9,919 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 818 shares in the last quarter.
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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