PBF Energy (NYSE:PBF) Rating Lowered to Hold at Zacks Research

PBF Energy (NYSE:PBF) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Citigroup upped their price objective on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group started coverage on PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. TD Cowen decreased their price objective on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a report on Monday, April 27th. Finally, Tudor Pickering raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PBF Energy has a consensus rating of “Reduce” and a consensus price target of $36.15.

PBF Energy Stock Down 4.9%

Shares of NYSE:PBF opened at $40.31 on Monday. PBF Energy has a 1 year low of $19.47 and a 1 year high of $52.18. The company has a market capitalization of $4.77 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. The business has a fifty day moving average price of $41.96 and a two-hundred day moving average price of $37.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period last year, the firm posted ($3.53) earnings per share. PBF Energy’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts forecast that PBF Energy will post 6.7 earnings per share for the current year.

Insider Transactions at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the transaction, the director owned 790,716 shares in the company, valued at $40,026,043.92. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $43.17, for a total value of $4,317,000.00. Following the transaction, the insider directly owned 18,117,698 shares of the company’s stock, valued at $782,141,022.66. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,582,425 shares of company stock worth $358,083,629 in the last three months. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in PBF Energy by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after buying an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in PBF Energy in the 3rd quarter worth about $823,000. Quantbot Technologies LP purchased a new stake in shares of PBF Energy in the 3rd quarter valued at about $1,546,000. Goldman Sachs Group Inc. raised its holdings in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of PBF Energy during the 4th quarter valued at about $1,485,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.