PBF Energy Inc. (PBF) Stock Price Down 3.4%
PBF Energy Inc. (NYSE:PBF) shares traded down 3.4% during trading on Wednesday . The company traded as low as $21.37 and last traded at $21.61, with a volume of 1,850,969 shares trading hands. The stock had previously closed at $22.38.
A number of research analysts have recently commented on the stock. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of PBF Energy in a research report on Monday. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $21.00 in a research report on Monday. Goldman Sachs Group Inc. lowered shares of 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 report on Wednesday, June 29th. Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $32.00 price objective on shares of PBF Energy in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.15.
The stock has a market capitalization of $2.11 billion and a P/E ratio of 66.31. The firm has a 50 day moving average of $24.65 and a 200-day moving average of $30.11.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, April 28th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.46) by $0.19. During the same period last year, the firm earned $0.87 earnings per share. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.47 billion. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that PBF Energy Inc. will post $1.30 EPS for the current year.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, June 1st. The stock was acquired at an average price of $27.40 per share, with a total value of $1,370,000.00. Following the acquisition, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew C. Lucey bought 10,000 shares of PBF Energy stock in a transaction that occurred 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 acquisition, the president now directly owns 50,000 shares in the company, valued at approximately $1,375,000. The disclosure for this purchase can be found here.
Several hedge funds recently made changes to their positions in PBF. Vanguard Group Inc. increased its stake in shares of 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 last quarter. UBS Oconnor LLC bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $16,133,000. Zweig DiMenna Associates LLC bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $13,896,000. Foresters Investment Management Company Inc. bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $9,313,000. Finally, Systematic Financial Management LP increased its stake in shares of 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 last quarter.
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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