Credit Suisse Group Downgrades PBF Energy Inc. (PBF) to Underperform

PBF Energy Inc. (NYSE:PBF) was downgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other research analysts have also issued reports on PBF. Morgan Stanley lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $24.00 price target on shares of PBF Energy in a research note on Monday, March 20th. Zacks Investment Research upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Citigroup Inc. reiterated a “buy” rating and set a $37.50 price target (down from $39.00) on shares of PBF Energy in a research note on Saturday, April 22nd. Finally, Vetr upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.95.

Analyst Recommendations for PBF Energy (NYSE:PBF)

Shares of PBF Energy (NYSE:PBF) opened at 22.34 on Tuesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 13.37 and a beta of 1.42. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98. The firm has a 50-day moving average of $21.32 and a 200 day moving average of $23.19.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.26. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. PBF Energy’s quarterly revenue was up 69.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.65) earnings per share. Equities analysts forecast that PBF Energy will post $1.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Friday, May 12th. PBF Energy’s dividend payout ratio (DPR) is presently 68.97%.

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In other PBF Energy news, CEO Thomas J. Nimbley purchased 50,000 shares of PBF Energy stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $19.69 per share, with a total value of $984,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 290,000 shares of the company’s stock, valued at $5,710,100. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Connor Thomas L. O purchased 10,000 shares of PBF Energy stock in a transaction on Friday, May 26th. The stock was acquired at an average cost of $20.17 per share, for a total transaction of $201,700.00. Following the acquisition, the insider now directly owns 105,135 shares of the company’s stock, valued at $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PBF. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of PBF Energy during the first quarter valued at about $113,000. US Bancorp DE increased its position in shares of PBF Energy by 35.6% in the first quarter. US Bancorp DE now owns 8,928 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 2,346 shares during the last quarter. IMS Capital Management purchased a new position in shares of PBF Energy during the first quarter valued at about $207,000. Stifel Financial Corp increased its position in shares of PBF Energy by 9.0% in the first quarter. Stifel Financial Corp now owns 9,919 shares of the oil and gas company’s stock valued at $221,000 after buying an additional 818 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of PBF Energy by 10.9% in the first quarter. ProShare Advisors LLC now owns 11,255 shares of the oil and gas company’s stock valued at $250,000 after buying an additional 1,110 shares during the last quarter.

PBF Energy Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PBF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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