PBF Energy Inc. (NYSE:PBF) Upgraded by BidaskClub to “Hold”
PBF Energy Inc. (NYSE:PBF) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
PBF has been the topic of a number of other reports. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. Citigroup Inc. reaffirmed a “buy” rating and set a $37.50 target price (down from $39.00) on shares of PBF Energy in a research report on Saturday, April 22nd. Vetr raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 6th. Credit Suisse Group lowered PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research report on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $22.00 target price on shares of PBF Energy in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.39.
PBF Energy (NYSE PBF) traded up 1.56% during mid-day trading on Friday, hitting $23.40. 3,342,546 shares of the stock were exchanged. The company has a market capitalization of $2.57 billion, a PE ratio of 14.00 and a beta of 1.40. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The stock has a 50 day moving average price of $22.07 and a 200 day moving average price of $22.22.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. PBF Energy had a negative return on equity of 4.93% and a negative net margin of 0.23%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company earned $0.14 earnings per share. On average, equities analysts anticipate that PBF Energy will post $0.38 earnings per share for the current fiscal year.
In related news, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average cost of $19.69 per share, with a total value of $984,500.00. Following the transaction, the chief executive officer now owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $20.17 per share, with a total value of $201,700.00. Following the completion of the transaction, the insider now directly owns 105,135 shares in the company, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. Corporate insiders own 2.55% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PBF. UBS Group AG raised its stake in PBF Energy by 4.6% in the first quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock worth $1,877,000 after buying an additional 3,706 shares during the last quarter. Sanders Morris Harris Inc. bought a new stake in PBF Energy during the first quarter worth approximately $2,001,000. Nomura Asset Management Co. Ltd. raised its stake in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after buying an additional 1,580 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in PBF Energy during the first quarter worth approximately $113,000. Finally, Point72 Asset Management L.P. bought a new stake in PBF Energy during the first quarter worth approximately $19,439,000.
About PBF Energy
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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