PBF Energy Inc. (PBF) Sets New 1-Year Low at $21.60
PBF Energy Inc. (NYSE:PBF)’s share price hit a new 52-week low on Thursday . The stock traded as low as $21.60 and last traded at $21.63, with a volume of 1,716,203 shares changing hands. The stock had previously closed at $22.57.
Several brokerages have recently weighed in on PBF. Goldman Sachs Group Inc. restated a “buy” rating on shares of PBF Energy in a report on Wednesday, April 27th. Zacks Investment Research upgraded PBF Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Credit Suisse Group AG reduced their price target on PBF Energy from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Barclays PLC reduced their price target on PBF Energy from $36.00 to $35.00 in a report on Friday, April 8th. Finally, JPMorgan Chase & Co. started coverage on PBF Energy in a report on Friday, April 8th. They set an “overweight” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $36.08.
The firm’s 50 day moving average price is $25.13 and its 200-day moving average price is $30.47. The firm has a market capitalization of $2.12 billion and a P/E ratio of 66.71.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by $0.19. During the same quarter in the previous year, the company earned $0.87 EPS. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.47 billion. PBF Energy’s revenue was down 6.5% compared to the same quarter last year. Analysts predict that PBF Energy Inc. will post $2.31 EPS for the current year.
In other PBF Energy news, President Matthew C. Lucey bought 10,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were bought at an average price of $27.50 per share, for a total transaction of $275,000.00. Following the acquisition, the president now directly owns 50,000 shares of the company’s stock, valued at approximately $1,375,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was acquired at an average price of $27.40 per share, for a total transaction of $1,370,000.00. Following the acquisition, the chief executive officer now directly owns 110,000 shares in the company, valued at $3,014,000. The disclosure for this purchase can be found here.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in PBF Energy by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 9,542,681 shares of the company’s stock valued at $351,265,000 after buying an additional 833,867 shares during the period. Systematic Financial Management LP raised its stake in PBF Energy by 47.8% in the fourth quarter. Systematic Financial Management LP now owns 651,134 shares of the company’s stock valued at $23,968,000 after buying an additional 210,585 shares during the period. Towle & Co. raised its stake in PBF Energy by 0.4% in the fourth quarter. Towle & Co. now owns 633,965 shares of the company’s stock valued at $23,336,000 after buying an additional 2,770 shares during the period. UBS Oconnor LLC purchased a new stake in PBF Energy during the fourth quarter valued at approximately $16,133,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in PBF Energy during the fourth quarter valued at approximately $13,896,000.
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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