PBF Energy Inc. (NYSE:PBF) dropped 4.3% on Wednesday . The stock traded as low as $21.65 and last traded at $21.82, with a volume of 1,020,126 shares. The stock had previously closed at $22.81.

PBF has been the topic of several recent analyst reports. Wolfe Research downgraded PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $21.00 in a report on Monday, July 11th. Credit Suisse Group AG reiterated a “buy” rating and issued a $30.00 price target on shares of PBF Energy in a report on Thursday, July 14th. Goldman Sachs Group Inc. downgraded PBF Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $26.00 in a report on Wednesday, June 29th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of PBF Energy in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. PBF Energy has an average rating of “Hold” and a consensus price target of $34.55.

The firm has a market capitalization of $2.12 billion and a PE ratio of 66.77. The firm has a 50 day moving average price of $23.33 and a 200-day moving average price of $29.10.

In related news, CEO Thomas J. Nimbley acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were acquired at an average price of $27.40 per share, with a total value of $1,370,000.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $3,014,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Matthew C. Lucey acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of $27.50 per share, for a total transaction of $275,000.00. Following the transaction, the president now directly owns 50,000 shares of the company’s stock, valued at approximately $1,375,000. The disclosure for this purchase can be found here.

Other hedge funds recently bought and sold shares of the company. 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 worth $23,968,000 after buying an additional 210,585 shares in the last quarter. Globeflex Capital L P raised its stake in PBF Energy by 93.1% in the fourth quarter. Globeflex Capital L P now owns 85,631 shares of the company’s stock worth $3,152,000 after buying an additional 41,276 shares in the last quarter. Zweig DiMenna Associates LLC bought a new stake in PBF Energy during the fourth quarter worth $13,896,000. UBS Oconnor LLC bought a new stake in PBF Energy during the fourth quarter worth $16,133,000. Finally, 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 worth $23,336,000 after buying an additional 2,770 shares in 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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