PBF Energy Inc. (NYSE:PBF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

A number of other research analysts have also issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $30.00 price target on shares of PBF Energy in a research report on Tuesday. Tudor Pickering upgraded PBF Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. TheStreet upgraded PBF Energy from a “c” rating to a “b” rating in a research report on Thursday, November 2nd. Scotiabank reiterated a “buy” rating on shares of PBF Energy in a research report on Friday, November 3rd. Finally, Macquarie reiterated a “neutral” rating on shares of PBF Energy in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.56.

PBF Energy (PBF) opened at $31.29 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50. PBF Energy has a 12-month low of $18.48 and a 12-month high of $32.05. The stock has a market capitalization of $3,440.00, a price-to-earnings ratio of 67.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.22. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. sell-side analysts expect that PBF Energy will post 1.59 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in PBF. BlackRock Inc. raised its position in shares of PBF Energy by 14,494.7% during the first quarter. BlackRock Inc. now owns 4,696,870 shares of the oil and gas company’s stock worth $104,130,000 after purchasing an additional 4,664,688 shares during the period. State Street Corp raised its position in shares of PBF Energy by 48.0% during the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after purchasing an additional 1,611,707 shares during the period. JPMorgan Chase & Co. raised its position in shares of PBF Energy by 8.7% during the second quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock worth $264,551,000 after purchasing an additional 953,577 shares during the period. Bank of New York Mellon Corp raised its position in shares of PBF Energy by 65.7% during the second quarter. Bank of New York Mellon Corp now owns 1,967,406 shares of the oil and gas company’s stock worth $43,795,000 after purchasing an additional 779,766 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of PBF Energy by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock worth $205,480,000 after purchasing an additional 635,728 shares during the period.

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.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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