PBF Energy (NYSE:PBF) Stock Rating Lowered by Zacks Research

PBF Energy (NYSE:PBF) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on PBF. Wall Street Zen downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. The Goldman Sachs Group began coverage on shares of PBF Energy in a report on Friday, April 10th. They issued a “neutral” rating and a $49.00 price target on the stock. Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Mizuho increased their price objective on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, BMO Capital Markets increased their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of “Reduce” and an average target price of $36.15.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $40.31 on Monday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. PBF Energy has a 52 week low of $19.47 and a 52 week high of $52.18. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $41.96 and a 200 day moving average of $37.25.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned ($3.53) EPS. On average, sell-side analysts predict that PBF Energy will post 6.7 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 100,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $43.17, for a total transaction of $4,317,000.00. Following the completion of the sale, the insider owned 18,117,698 shares in the company, valued at approximately $782,141,022.66. This represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Nimbley sold 50,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the sale, the director owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,582,425 shares of company stock valued at $358,083,629. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently made changes to their positions in PBF. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 589 shares during the period. Torren Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $31,000. Leonteq Securities AG acquired a new position in shares of PBF Energy in the 1st quarter valued at $33,000. Finally, Hantz Financial Services Inc. increased its position in shares of PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

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.