PBF Energy (NYSE:PBF) Lowered to “Underperform” Rating by Mizuho

PBF Energy (NYSE:PBF) was downgraded by equities research analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. They presently have a $31.00 price target on the oil and gas company’s stock, down from their prior price target of $33.00. Mizuho’s price target points to a potential upside of 5.95% from the stock’s previous close.

PBF has been the topic of several other research reports. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Scotiabank reduced their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley dropped their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average price target of $33.09.

PBF Energy Stock Down 1.5 %

PBF opened at $29.26 on Monday. The company has a market capitalization of $3.37 billion, a P/E ratio of -11.30 and a beta of 1.57. 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 firm’s fifty day moving average price is $31.25 and its two-hundred day moving average price is $35.82. PBF Energy has a fifty-two week low of $27.94 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $6.61 earnings per share. On average, analysts anticipate that PBF Energy will post -2.87 EPS for the current year.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 250,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $31.78 per share, with a total value of $7,945,000.00. Following the purchase, the insider now owns 22,952,398 shares of the company’s stock, valued at $729,427,208.44. This represents a 1.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 3,568,100 shares of company stock valued at $111,183,331 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI bought a new stake in PBF Energy during the 2nd quarter worth approximately $26,000. Quarry LP bought a new stake in shares of PBF Energy during the third quarter worth $48,000. CWM LLC raised its holdings in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the period. Harbor Capital Advisors Inc. acquired a new position in PBF Energy in the 3rd quarter worth $59,000. Finally, Blue Trust Inc. raised its stake in shares of PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

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.