JPMorgan Chase & Co. Lowers PBF Energy (NYSE:PBF) to Neutral

PBF Energy (NYSE:PBF) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, Briefing.com reports. They currently have a $40.00 price target on the oil and gas company’s stock, down from their previous price target of $53.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 27.55% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Wells Fargo & Company reduced their price objective on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Scotiabank reduced their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, UBS Group reduced their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.73.

PBF Energy Stock Up 1.3 %

Shares of NYSE PBF opened at $31.36 on Wednesday. PBF Energy has a 12-month low of $30.17 and a 12-month high of $62.88. The company has a market capitalization of $3.72 billion, a PE ratio of 2.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The firm’s 50-day moving average is $34.58 and its two-hundred day moving average is $44.50.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period last year, the company earned $2.29 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts anticipate that PBF Energy will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 50,000 shares of PBF Energy stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 2,897,300 shares of company stock worth $95,603,276 in the last ninety days. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hennessy Advisors Inc. lifted its position in PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after purchasing an additional 89,900 shares during the last quarter. Van ECK Associates Corp lifted its position in PBF Energy by 763.4% in the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares during the last quarter. Acadian Asset Management LLC lifted its position in PBF Energy by 4.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares during the last quarter. Magnetar Financial LLC acquired a new position in PBF Energy during the 1st quarter valued at about $1,394,000. Finally, Inspire Investing LLC acquired a new position in PBF Energy during the 1st quarter valued at about $905,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.