PBF Energy Inc. (NYSE:PBF) Cut to Sell at BidaskClub
BidaskClub lowered shares of PBF Energy Inc. (NYSE:PBF) from a hold rating to a sell rating in a report published on Thursday.
Several other analysts also recently commented on PBF. Goldman Sachs Group, Inc. (The) raised shares of PBF Energy from a sell rating to a neutral rating and boosted their target price for the stock from $22.00 to $23.00 in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Vetr raised shares of PBF Energy from a buy rating to a strong-buy rating in a research report on Thursday, April 6th. Barclays PLC reissued an outperform rating on shares of PBF Energy in a research report on Friday, April 14th. Citigroup Inc. reissued a buy rating and issued a $37.50 target price (down from $39.00) on shares of PBF Energy in a research report on Saturday, April 22nd. Finally, Zacks Investment Research raised shares of PBF Energy from a sell rating to a hold rating in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. PBF Energy currently has an average rating of Hold and an average price target of $23.39.
Shares of PBF Energy (NYSE PBF) traded up 4.85% during trading on Thursday, hitting $22.68. 1,354,008 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $22.03 and its 200 day moving average is $22.26. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The firm has a market capitalization of $2.49 billion, a PE ratio of 13.57 and a beta of 1.39.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.26. The company had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) earnings per share. On average, equities research analysts forecast that PBF Energy will post $0.42 earnings per share for the current year.
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In other news, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average cost of $19.69 per share, with a total value of $984,500.00. Following the acquisition, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Connor Thomas L. O acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average cost of $20.17 per share, with a total value of $201,700.00. Following the completion of the acquisition, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of PBF. Renaissance Technologies LLC purchased a new stake in PBF Energy during the fourth quarter valued at about $488,000. Guggenheim Capital LLC increased its stake in PBF Energy by 92.9% in the fourth quarter. Guggenheim Capital LLC now owns 73,344 shares of the oil and gas company’s stock valued at $2,045,000 after buying an additional 35,329 shares in the last quarter. Teachers Advisors LLC increased its stake in PBF Energy by 139.6% in the fourth quarter. Teachers Advisors LLC now owns 359,984 shares of the oil and gas company’s stock valued at $10,036,000 after buying an additional 209,738 shares in the last quarter. Denali Advisors LLC purchased a new stake in PBF Energy during the first quarter valued at about $778,000. Finally, Bank of Montreal Can increased its stake in PBF Energy by 18.3% in the first quarter. Bank of Montreal Can now owns 65,521 shares of the oil and gas company’s stock valued at $1,452,000 after buying an additional 10,142 shares in the last quarter.
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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