Bank of America cut shares of PBF Energy (NYSE:PBF) from a neutral rating to an underperform rating in a research note released on Wednesday, AnalystRatings.net reports.
A number of other research analysts also recently issued reports on PBF. BidaskClub downgraded PBF Energy from a hold rating to a sell rating in a research note on Thursday, December 17th. Barclays decreased their target price on shares of PBF Energy from $7.00 to $5.00 in a report on Thursday, October 8th. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $8.00 to $6.00 and set an underweight rating for the company in a research note on Friday, September 11th. Credit Suisse Group cut their price target on shares of PBF Energy from $13.50 to $10.75 and set a neutral rating for the company in a research note on Thursday, November 19th. Finally, Royal Bank of Canada reissued a hold rating and issued a $8.00 price target on shares of PBF Energy in a research note on Thursday, October 15th. Eleven research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of Hold and an average target price of $6.75.
NYSE PBF opened at $6.58 on Wednesday. The firm has a market capitalization of $790.44 million, a P/E ratio of -1.40 and a beta of 2.68. The business has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $7.56. PBF Energy has a 12 month low of $4.06 and a 12 month high of $33.99. The company has a current ratio of 1.66, a quick ratio of 0.87 and a debt-to-equity ratio of 1.44.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 29th. The oil and gas company reported ($2.87) EPS for the quarter, missing analysts’ consensus estimates of ($2.57) by ($0.30). The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.24 billion. PBF Energy had a negative net margin of 2.70% and a negative return on equity of 11.97%. The company’s quarterly revenue was down 43.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts predict that PBF Energy will post -9.06 EPS for the current fiscal year.
In other PBF Energy news, insider Control Empresarial De Capital purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 28th. The stock was bought at an average cost of $6.87 per share, for a total transaction of $274,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.30% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in shares of PBF Energy in the third quarter valued at about $59,000. CIBC Asset Management Inc purchased a new position in PBF Energy during the third quarter worth about $79,000. Fox Run Management L.L.C. purchased a new position in PBF Energy during the third quarter worth about $94,000. World Asset Management Inc boosted its stake in PBF Energy by 15.0% during the third quarter. World Asset Management Inc now owns 16,871 shares of the oil and gas company’s stock worth $96,000 after buying an additional 2,200 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. boosted its stake in PBF Energy by 27.9% during the third quarter. Arkfeld Wealth Strategies L.L.C. now owns 16,950 shares of the oil and gas company’s stock worth $101,000 after buying an additional 3,700 shares during the period. Institutional investors own 79.39% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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