PBF Energy Inc. (NYSE:PBF) was downgraded by equities researchers at Barclays PLC from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday, The Fly reports.
A number of other research analysts also recently weighed in on PBF. JPMorgan Chase & Co. reissued a “buy” rating on shares of PBF Energy in a research note on Sunday, June 12th. Piper Jaffray Cos. raised their price objective on PBF Energy from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Credit Suisse Group AG reissued a “buy” rating and issued a $32.00 price objective on shares of PBF Energy in a research note on Thursday, June 16th. Wells Fargo & Co. reissued an “outperform” rating on shares of PBF Energy in a research note on Monday, July 11th. Finally, Goldman Sachs Group Inc. downgraded PBF Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $26.00 in a research note on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. PBF Energy has a consensus rating of “Hold” and a consensus price target of $30.58.
Shares of PBF Energy (NYSE:PBF) opened at 21.71 on Monday. PBF Energy has a 52-week low of $20.57 and a 52-week high of $41.75. The firm’s market capitalization is $2.12 billion. The company’s 50 day moving average price is $22.38 and its 200 day moving average price is $25.85.
PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.73. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. The company earned $3.86 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that PBF Energy will post ($0.29) earnings per share for the current year.
In related news, insider Connor Thomas L. O bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired 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 of the company’s stock, valued at $1,086,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Nimbley bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the transaction, the chief executive officer now directly owns 160,000 shares in the company, valued at $3,494,400. The disclosure for this purchase can be found here. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in PBF Energy by 31.3% in the first quarter. Wellington Management Group LLP now owns 2,364,437 shares of the company’s stock valued at $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 valued at $72,252,000 after buying an additional 49,356 shares during the period. M&T Bank Corp bought a new position in PBF Energy during the first quarter valued at approximately $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 valued at $456,000 after buying an additional 5,027 shares during the period. 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 valued at $8,332,000 after buying an additional 89,030 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.
About PBF Energy
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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