PBF Energy Inc. (PBF) Stock Price Down 4%
Shares of PBF Energy Inc. (NYSE:PBF) traded down 4% during trading on Wednesday . The company traded as low as $22.15 and last traded at $22.42, with a volume of 1,304,406 shares. The stock had previously closed at $23.36.
A number of analysts have commented on the company. Simmons lifted their target price on PBF Energy from $27.00 to $28.00 in a report on Tuesday, April 12th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of PBF Energy in a report on Wednesday, April 27th. Raymond James Financial Inc. downgraded PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, March 28th. Barclays PLC dropped their price target on PBF Energy from $36.00 to $35.00 in a research note on Friday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on PBF Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, June 10th. One equities 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 company. The company currently has an average rating of “Hold” and a consensus price target of $36.08.
The firm has a market cap of $2.07 billion and a price-to-earnings ratio of 65.02. The company’s 50 day moving average price is $25.13 and its 200-day moving average price is $30.47.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by $0.19. During the same quarter last year, the firm posted $0.87 earnings per share. The company earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.47 billion. PBF Energy’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts predict that PBF Energy Inc. will post $2.31 EPS for the current year.
In other PBF Energy news, President Matthew C. Lucey purchased 10,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were bought at an average cost of $27.50 per share, with a total value of $275,000.00. Following the completion of the acquisition, the president now owns 50,000 shares in the company, valued at $1,375,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was acquired at an average cost of $27.40 per share, for a total transaction of $1,370,000.00. Following the completion of the acquisition, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The disclosure for this purchase can be found here.
Several large investors have recently bought and sold shares of PBF. Deere & Co. raised its stake in PBF Energy by 131.4% in the fourth quarter. Deere & Co. now owns 41,677 shares of the company’s stock valued at $1,534,000 after buying an additional 23,669 shares during the last quarter. Rhumbline Advisers raised its stake in PBF Energy by 19.7% in the fourth quarter. Rhumbline Advisers now owns 64,067 shares of the company’s stock valued at $2,358,000 after buying an additional 10,540 shares during the last quarter. State of Wisconsin Investment Board raised its stake in PBF Energy by 9.2% in the fourth quarter. State of Wisconsin Investment Board now owns 70,130 shares of the company’s stock valued at $2,581,000 after buying an additional 5,930 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in PBF Energy by 52.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 78,270 shares of the company’s stock valued at $2,881,000 after buying an additional 26,963 shares during the last quarter. Finally, EAM Investors LLC purchased a new stake in PBF Energy during the fourth quarter valued at about $3,036,000.
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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