PBF Energy Inc. (PBF) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of PBF Energy Inc. (NYSE:PBF) from a sell rating to a hold rating in a report issued on Tuesday morning.
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. “
Other analysts have also issued reports about the company. Scotiabank set a $24.00 price objective on PBF Energy and gave the stock a buy rating in a report on Monday, June 26th. Citigroup Inc. reissued a buy rating and set a $37.50 price objective (down from $39.00) on shares of PBF Energy in a report on Saturday, April 22nd. Royal Bank Of Canada reissued a hold rating and set a $24.00 price objective on shares of PBF Energy in a report on Monday, March 20th. US Capital Advisors reissued a hold rating on shares of PBF Energy in a report on Monday, May 22nd. Finally, BidaskClub raised PBF Energy from a sell rating to a hold rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $23.39.
Shares of PBF Energy (PBF) opened at 21.85 on Tuesday. The firm has a 50 day moving average price of $21.78 and a 200 day moving average price of $22.41. PBF Energy has a one year low of $18.48 and a one year high of $30.98. The company has a market capitalization of $2.40 billion, a P/E ratio of 13.08 and a beta of 1.40.
PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.26. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $4.29 billion. PBF Energy had a negative return on equity of 4.20% and a net margin of 0.95%. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.65) EPS. On average, equities research analysts predict that PBF Energy will post $0.50 EPS for the current fiscal year.
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In other PBF Energy news, CEO Thomas J. Nimbley bought 50,000 shares of PBF Energy stock in a transaction dated Tuesday, May 30th. The stock was bought at an average cost 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 in the company, valued at approximately $5,710,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Connor Thomas L. O bought 10,000 shares of PBF Energy stock in a transaction dated Friday, May 26th. The stock was acquired 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 of the company’s stock, valued at $2,120,572.95. The disclosure for this purchase can be found here. Corporate insiders own 2.55% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PBF. Clinton Group Inc. raised its position in shares of PBF Energy by 0.6% in the first quarter. Clinton Group Inc. now owns 29,207 shares of the oil and gas company’s stock valued at $648,000 after buying an additional 181 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in PBF Energy by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 23,704 shares of the oil and gas company’s stock valued at $526,000 after buying an additional 314 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in PBF Energy by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 26,436 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 316 shares during the last quarter. US Bancorp DE raised its position in PBF Energy by 6.4% in the second quarter. US Bancorp DE now owns 9,498 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 570 shares during the last quarter. Finally, Stifel Financial Corp raised its position in 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.
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.
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