PBF Energy Inc. (PBF) Sets New 1-Year Low at $21.60
Shares of PBF Energy Inc. (NYSE:PBF) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.60 and last traded at $21.63, with a volume of 1,716,203 shares. The stock had previously closed at $22.57.
Several research firms recently issued reports on PBF. Goldman Sachs Group Inc. downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $26.00 in a report on Wednesday, June 29th. Wolfe Research cut shares of PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, June 20th. Credit Suisse Group AG reiterated a “buy” rating and set a $32.00 target price on shares of PBF Energy in a research note on Thursday, June 16th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of PBF Energy in a research note on Sunday, June 12th. Finally, Zacks Investment Research cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $36.08.
The stock has a market capitalization of $2.14 billion and a price-to-earnings ratio of 67.42. The stock has a 50 day moving average price of $24.96 and a 200 day moving average price of $30.37.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.46) by $0.19. During the same period in the previous year, the company 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 company’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities analysts expect that PBF Energy Inc. will post $2.31 earnings per share for the current fiscal year.
In other news, President Matthew C. Lucey bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was acquired at an average cost of $27.50 per share, with a total value of $275,000.00. Following the completion of the purchase, the president now owns 50,000 shares of the company’s stock, valued at $1,375,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Nimbley bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased at an average cost of $27.40 per share, with a total value of $1,370,000.00. Following the completion of the purchase, the chief executive officer now directly owns 110,000 shares of the company’s stock, valued at approximately $3,014,000. The disclosure for this purchase can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in PBF Energy by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 9,542,681 shares of the company’s stock worth $351,265,000 after buying an additional 833,867 shares during the period. Systematic Financial Management LP boosted its position 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 during the period. Towle & Co. boosted its position 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 during the period. UBS Oconnor LLC bought a new position in PBF Energy during the fourth quarter worth approximately $16,133,000. Finally, Zweig DiMenna Associates LLC bought a new position in PBF Energy during the fourth quarter worth 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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