PBF Energy Inc. (PBF) Trading Up 3.9%
PBF Energy Inc. (NYSE:PBF)’s share price was up 3.9% on Tuesday . The stock traded as high as $22.88 and last traded at $22.85, with a volume of 1,177,216 shares trading hands. The stock had previously closed at $21.99.
PBF has been the topic of a number of recent analyst reports. Wolfe Research lowered PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, June 20th. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $21.00 in a research note on Monday, July 11th. Credit Suisse Group AG reiterated a “buy” rating and issued a $30.00 price objective on shares of PBF Energy in a research note on Thursday, July 14th. Goldman Sachs Group Inc. lowered PBF Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $37.00 to $26.00 in a research note on Wednesday, June 29th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of PBF Energy in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.55.
The firm’s 50 day moving average price is $23.33 and its 200-day moving average price is $29.10. The company has a market cap of $2.23 billion and a P/E ratio of 70.18.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 28th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates 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. PBF Energy’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, analysts predict that PBF Energy Inc. will post $0.66 EPS for the current fiscal year.
In other PBF Energy news, President Matthew C. Lucey purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were bought at an average price of $27.50 per share, for a total transaction of $275,000.00. Following the completion of the acquisition, the president now owns 50,000 shares in the company, valued at $1,375,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Nimbley purchased 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, for a total transaction 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 disclosure for this purchase can be found here.
Several institutional investors have modified their holdings of the company. Airain ltd acquired a new position in shares of PBF Energy during the fourth quarter worth approximately $1,467,000. Foresters Investment Management Company Inc. acquired a new position in shares of PBF Energy during the fourth quarter worth approximately $9,313,000. Trexquant Investment LP raised its position in shares of PBF Energy by 93.6% in the fourth quarter. Trexquant Investment LP now owns 109,390 shares of the company’s stock worth $4,027,000 after buying an additional 52,876 shares during the period. Systematic Financial Management LP raised its position 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 worth $23,968,000 after buying an additional 210,585 shares during the period. Finally, Globeflex Capital L P raised its position in shares of 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 during the period.
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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