PBF Energy (NYSE:PBF) Stock Rating Lowered by Zacks Research

PBF Energy (NYSE:PBF) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on PBF. Citigroup boosted their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Scotiabank lifted their target price on shares of PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. UBS Group increased their price objective on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. BMO Capital Markets reiterated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a report on Monday, January 5th. Finally, Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $38.00 in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $30.14.

PBF Energy Stock Performance

Shares of PBF Energy stock traded up $0.65 during trading on Tuesday, reaching $33.47. The company’s stock had a trading volume of 339,146 shares, compared to its average volume of 4,222,859. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The firm has a market cap of $3.88 billion, a PE ratio of -7.19, a P/E/G ratio of 2.40 and a beta of 0.47. PBF Energy has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The company has a 50-day moving average price of $31.26 and a two-hundred day moving average price of $29.36.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted ($1.50) earnings per share. On average, analysts forecast that PBF Energy will post -1.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas J. Nimbley sold 250,000 shares of PBF Energy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at $27,287,609.16. The trade was a 24.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total transaction of $2,041,500.00. Following the completion of the transaction, the senior vice president directly owned 205,340 shares in the company, valued at approximately $8,384,032.20. The trade was a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 845,624 shares of company stock worth $29,349,545 in the last three months. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings in PBF Energy by 114.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,491 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 1,331 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in PBF Energy by 2.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 37,400 shares of the oil and gas company’s stock valued at $1,014,000 after purchasing an additional 720 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in PBF Energy by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,306 shares of the oil and gas company’s stock valued at $1,098,000 after buying an additional 511 shares in the last quarter. Next Level Private LLC increased its position in shares of PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after purchasing an additional 378 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of PBF Energy in the fourth quarter worth about $842,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.