PBF Energy Inc. (PBF) Sees Strong Trading Volume
Shares of PBF Energy Inc. (NYSE:PBF) saw an uptick in trading volume on Friday . 1,927,949 shares were traded during 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 research firms have recently weighed in on PBF. JPMorgan Chase & Co. restated a “buy” rating on shares of PBF Energy in a report on Sunday, June 12th. Zacks Investment Research upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Barclays PLC cut their price target on shares of PBF Energy from $36.00 to $35.00 in a report on Friday, April 8th. Credit Suisse Group AG dropped their target price on shares of PBF Energy from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, April 25th. Finally, Royal Bank Of Canada started coverage on shares of PBF Energy in a report on Tuesday, April 12th. They issued a “sector perform” rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. PBF Energy currently has a consensus rating of “Hold” and an average target price of $36.08.
The firm’s 50 day moving average is $24.96 and its 200 day moving average is $30.37. The firm has a market cap of $2.14 billion and a price-to-earnings ratio of 67.42.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by $0.19. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.47 billion. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts anticipate that PBF Energy Inc. will post $2.10 earnings per share for the current year.
In other news, President Matthew C. Lucey purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were purchased at an average cost of $27.50 per share, with a total value of $275,000.00. Following the completion of the transaction, the president now owns 50,000 shares of the company’s stock, valued at approximately $1,375,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were purchased at an average cost of $27.40 per share, for a total transaction of $1,370,000.00. Following the completion of the transaction, 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 hedge funds have recently bought and sold shares of the company. 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 period. 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 period. 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 period. 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 period. 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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