PBF Energy Inc. (PBF) Sees Large Volume Increase
Shares of PBF Energy Inc. (NYSE:PBF) saw strong trading volume on Friday . 1,927,949 shares traded hands during mid-day trading, a decline of 20% from the previous session’s volume of 2,403,027 shares.The stock last traded at $21.84 and had previously closed at $21.68.
A number of equities analysts have recently commented on the company. Goldman Sachs Group Inc. lowered PBF Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $26.00 in a report on Wednesday, June 29th. Wolfe Research lowered PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $32.00 price target on shares of PBF Energy in a report on Thursday, June 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of PBF Energy in a report on Sunday, June 12th. Finally, Zacks Investment Research lowered PBF Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $36.08.
The company has a market cap of $2.14 billion and a PE ratio of 67.42. The company has a 50-day moving average of $24.96 and a 200-day moving average of $30.37.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data 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 business earned $0.87 EPS. The firm earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.47 billion. PBF Energy’s quarterly revenue was down 6.5% compared to the same quarter last year. Analysts expect that PBF Energy Inc. will post $2.31 EPS for the current year.
In related news, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction dated Wednesday, June 1st. The stock was purchased at an average cost of $27.40 per share, for a total transaction of $1,370,000.00. Following the purchase, the chief executive officer now directly 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 is accessible through this link. Also, President Matthew C. Lucey acquired 10,000 shares of PBF Energy stock in a transaction dated Wednesday, June 1st. The stock was bought at an average price of $27.50 per share, with a total value of $275,000.00. Following the completion of the purchase, the president now directly owns 50,000 shares in the company, valued at $1,375,000. The disclosure for this purchase can be found here.
Several large investors recently bought and sold shares of PBF. 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. California Public Employees Retirement System raised its stake in shares of PBF Energy by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 209,300 shares of the company’s stock worth $7,704,000 after buying an additional 2,500 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of PBF Energy by 75.9% in the fourth quarter. GSA Capital Partners LLP now owns 168,900 shares of the company’s stock worth $6,217,000 after buying an additional 72,905 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of PBF Energy by 14.1% in the fourth quarter. California State Teachers Retirement System now owns 184,928 shares of the company’s stock worth $6,807,000 after buying an additional 22,882 shares during the last quarter. Finally, New Amsterdam Partners LLC NY raised its stake in shares of PBF Energy by 0.3% in the fourth quarter. New Amsterdam Partners LLC NY now owns 181,063 shares of the company’s stock worth $6,665,000 after buying an additional 486 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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