PBF Energy (NYSE:PBF) Lowered to “Strong Sell” at ValuEngine

PBF Energy (NYSE:PBF) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, June 7th, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. TheStreet lowered PBF Energy from a “b” rating to a “c+” rating in a research note on Friday, February 15th. Morgan Stanley set a $42.00 target price on PBF Energy and gave the company a “buy” rating in a research note on Friday, May 17th. Credit Suisse Group raised PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Wednesday, May 15th. Raymond James lowered their target price on PBF Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Finally, Tudor Pickering lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $48.33.

Shares of PBF traded up $1.40 during midday trading on Friday, reaching $31.30. The stock had a trading volume of 2,748,907 shares, compared to its average volume of 2,779,986. The business has a 50-day moving average price of $27.67. PBF Energy has a 12-month low of $23.67 and a 12-month high of $53.91. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.58 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.51.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the company posted ($0.29) earnings per share. PBF Energy’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities analysts forecast that PBF Energy will post 1.81 earnings per share for the current fiscal year.

In other news, insider Carso S.A. De C.V. Inversora bought 1,609,796 shares of PBF Energy stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $28.95 per share, for a total transaction of $46,603,594.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Nimbley bought 40,000 shares of PBF Energy stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $23.76 per share, for a total transaction of $950,400.00. Following the acquisition, the chief executive officer now directly owns 405,990 shares in the company, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. Corporate insiders own 3.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of PBF. Norges Bank purchased a new position in shares of PBF Energy during the 4th quarter worth approximately $57,524,000. Oregon Public Employees Retirement Fund grew its holdings in shares of PBF Energy by 3,260.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,389 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 1,521,723 shares during the period. Bank of Montreal Can grew its holdings in shares of PBF Energy by 87.9% during the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock worth $87,796,000 after acquiring an additional 1,319,222 shares during the period. Vanguard Group Inc grew its holdings in shares of PBF Energy by 10.0% during the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after acquiring an additional 1,121,082 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of PBF Energy by 94.7% during the 4th quarter. Deutsche Bank AG now owns 1,101,455 shares of the oil and gas company’s stock worth $35,981,000 after acquiring an additional 535,725 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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