PBF Energy (NYSE:PBF) Lowered to Sell Rating by StockNews.com

PBF Energy (NYSE:PBF) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other research firms have also issued reports on PBF. Mizuho reduced their price target on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reduced their target price on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Bank of America initiated coverage on PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective for the company. Finally, Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.18.

PBF Energy Price Performance

NYSE PBF opened at $28.84 on Monday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -11.14 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The stock’s fifty day moving average price is $31.98 and its 200 day moving average price is $39.86. PBF Energy has a 1 year low of $27.94 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $6.61 earnings per share. The firm’s revenue for the quarter was down 21.9% on a year-over-year basis. As a group, equities research analysts forecast that PBF Energy will post -2.32 earnings per share for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 150,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $28.66 per share, for a total transaction of $4,299,000.00. Following the acquisition, the insider now owns 26,112,498 shares in the company, valued at approximately $748,384,192.68. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 4,407,400 shares of company stock valued at $139,761,347 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of large investors have recently modified their holdings of PBF. Acadian Asset Management LLC boosted its position in PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after acquiring an additional 347,268 shares during the last quarter. LSV Asset Management boosted its holdings in shares of PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after purchasing an additional 34,470 shares during the last quarter. American Century Companies Inc. grew its position in shares of PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock valued at $45,712,000 after purchasing an additional 32,862 shares in the last quarter. Private Management Group Inc. lifted its position in PBF Energy by 27.5% during the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock worth $26,267,000 after buying an additional 183,183 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in PBF Energy by 14.8% during the second quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after buying an additional 84,532 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc, through 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 from crude oil.