PBF Energy (NYSE:PBF) Stock Rating Lowered by BMO Capital Markets

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

Several other research analysts have also recently commented on PBF. Morgan Stanley lowered their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $53.00 to $40.00 in a report on Wednesday. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank decreased their price target on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, UBS Group cut their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average price target of $43.45.

PBF Energy Stock Performance

PBF opened at $32.99 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The business has a fifty day simple moving average of $34.14 and a 200 day simple moving average of $44.09. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. The company has a market capitalization of $3.91 billion, a PE ratio of 2.28 and a beta of 1.55.

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

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 307,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $39.22 per share, for a total transaction of $12,040,540.00. Following the completion of the acquisition, the insider now owns 18,079,598 shares of the company’s stock, valued at approximately $709,081,833.56. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 2,952,300 shares of company stock worth $97,300,026 over the last quarter. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Janus Henderson Group PLC grew its holdings in shares of PBF Energy by 957.8% during the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after purchasing an additional 547,509 shares during the last quarter. SG Americas Securities LLC increased its position in PBF Energy by 14,785.7% in the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after acquiring an additional 539,381 shares during the period. Hsbc Holdings PLC raised its stake in shares of PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after acquiring an additional 355,329 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 347,268 shares during the period. Finally, Natixis bought a new stake in shares of PBF Energy in the first quarter worth $16,269,000. Institutional investors and hedge funds 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.