Barclays PLC cut shares of PBF Energy Inc. (NYSE:PBF) from an equal weight rating to an underweight rating in a research report sent to investors on Monday morning. The firm currently has $19.00 target price on the stock, down from their prior target price of $26.00.
PBF has been the subject of a number of other reports. Credit Suisse Group AG reiterated an outperform rating on shares of PBF Energy in a research note on Sunday, September 4th. Tudor Pickering downgraded shares of PBF Energy from a buy rating to a hold rating in a report on Monday, August 8th. Goldman Sachs Group Inc. downgraded shares of PBF Energy from a neutral rating to a sell rating and cut their price target for the company from $23.00 to $19.00 in a report on Thursday, September 8th. JPMorgan Chase & Co. downgraded shares of PBF Energy from an overweight rating to a neutral rating and cut their price target for the company from $33.00 to $21.00 in a report on Monday, July 11th. Finally, Piper Jaffray Cos. raised their price target on shares of PBF Energy from $17.00 to $20.00 and gave the company a neutral rating in a report on Friday, September 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $29.33.
Shares of PBF Energy (NYSE:PBF) opened at 20.03 on Monday. The company’s market capitalization is $1.96 billion. The firm’s 50-day moving average price is $22.20 and its 200 day moving average price is $25.60. PBF Energy has a 1-year low of $19.61 and a 1-year high of $41.75.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Friday, July 29th. The company reported $0.14 earnings per share 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 business earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts predict that PBF Energy will post ($0.29) EPS for the current fiscal year.
In other PBF Energy news, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction on Friday, September 9th. The stock was acquired at an average cost of $21.84 per share, with a total value of $1,092,000.00. Following the completion of the purchase, the chief executive officer now directly owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction on Friday, September 9th. The stock was acquired at an average cost of $21.73 per share, with a total value of $217,300.00. Following the completion of the purchase, the insider now directly owns 50,000 shares of the company’s stock, valued at $1,086,500. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its stake in 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 in the last quarter. Huntington National Bank acquired a new stake in PBF Energy during the second quarter valued at $109,000. Acrospire Investment Management LLC acquired a new stake in PBF Energy during the first quarter valued at $130,000. Pacer Advisors Inc. acquired a new stake in PBF Energy during the second quarter valued at $175,000. Finally, M&T Bank Corp acquired a new stake in PBF Energy during the first quarter valued at $201,000. 99.55% of the stock is 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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