PBF Energy (NYSE:PBF) Rating Lowered to Market Perform at BMO Capital Markets

PBF Energy (NYSE:PBF) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday, MarketBeat reports. They presently have a $35.00 price objective on the oil and gas company’s stock, down from their previous price objective of $42.00. BMO Capital Markets’ price target points to a potential upside of 6.09% from the stock’s previous close.

Several other research firms have also weighed in on PBF. Wells Fargo & Company reduced their target price on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $53.00 to $40.00 in a report on Wednesday. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Finally, Mizuho lowered their price objective on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $43.45.

PBF Energy Stock Performance

Shares of PBF stock opened at $32.99 on Friday. The stock has a market cap of $3.91 billion, a PE ratio of 2.28 and a beta of 1.55. The stock has a 50-day moving average of $34.14 and a 200-day moving average of $44.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy has a one year low of $30.17 and a one year high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that PBF Energy will post 0.35 earnings per share for the current year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 55,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $30.85 per share, with a total value of $1,696,750.00. Following the acquisition, the insider now owns 23,462,398 shares in the company, valued at $723,814,978.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 2,952,300 shares of company stock worth $97,300,026 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares during the last quarter. National Bank of Canada FI bought a new stake in PBF Energy in the 2nd quarter valued at $26,000. Rise Advisors LLC acquired a new stake in PBF Energy during the 1st quarter valued at $27,000. Creekmur Asset Management LLC bought a new position in PBF Energy during the fourth quarter worth $29,000. Finally, CWM LLC increased its holdings in shares of PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

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.