A number of other equities research analysts have also issued reports on the company. Goldman Sachs Group Inc. lowered PBF Energy from a neutral rating to a sell rating and lowered their target price for the company from $23.00 to $19.00 in a research note on Thursday, September 8th. Wolfe Research lowered PBF Energy from an outperform rating to a market perform rating in a research note on Monday, June 20th. Barclays PLC lowered PBF Energy from an equal weight rating to an underweight rating and lowered their price objective for the company from $26.00 to $19.00 in a research note on Monday. JPMorgan Chase & Co. lowered PBF Energy from an overweight rating to a neutral rating and lowered their price objective for the company from $33.00 to $21.00 in a research note on Monday, July 11th. Finally, Tudor Pickering lowered PBF Energy from a buy rating to a hold rating in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $30.00.
Shares of PBF Energy (NYSE:PBF) traded down 3.73% during midday trading on Tuesday, reaching $19.85. The company’s stock had a trading volume of 915,989 shares. The firm’s market capitalization is $1.94 billion. PBF Energy has a 1-year low of $19.61 and a 1-year high of $41.75. The company’s 50-day moving average price is $22.28 and its 200 day moving average price is $25.64.
PBF Energy (NYSE:PBF) last posted its earnings results on Friday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by $0.73. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. The company earned $3.86 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business posted $0.88 EPS. PBF Energy’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that PBF Energy will post ($0.29) earnings per share for the current year.
In related news, CEO Thomas J. Nimbley purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the acquisition, the chief executive officer now owns 160,000 shares in the company, valued at approximately $3,494,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Connor Thomas L. O purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the acquisition, the insider now owns 50,000 shares in the company, valued at approximately $1,086,500. The disclosure for this purchase can be found here. 5.70% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of PBF Energy by 1.2% in the second quarter. US Bancorp DE now owns 4,437 shares of the company’s stock valued at $106,000 after buying an additional 53 shares during the period. Huntington National Bank acquired a new stake in shares of PBF Energy during the second quarter valued at $109,000. Acrospire Investment Management LLC acquired a new stake in shares of PBF Energy during the first quarter valued at $130,000. Pacer Advisors Inc. acquired a new stake in shares of PBF Energy during the second quarter valued at $175,000. Finally, M&T Bank Corp acquired a new stake in shares of PBF Energy during the first quarter valued at $201,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.
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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