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

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

PBF has been the subject of several other reports. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group cut their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and cut their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. Wolfe Research initiated coverage on PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets downgraded PBF Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, PBF Energy has an average rating of “Hold” and an average price target of $34.18.

PBF Energy Price Performance

PBF stock traded up $0.27 on Monday, reaching $28.35. The company had a trading volume of 1,766,319 shares, compared to its average volume of 2,177,525. PBF Energy has a 1 year low of $27.94 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company’s fifty day moving average is $32.05 and its 200 day moving average is $40.05. The company has a market cap of $3.32 billion, a P/E ratio of -10.95 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) 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 2.78%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company posted $6.61 EPS. PBF Energy’s quarterly revenue was down 21.9% compared to the same quarter last year. On average, research analysts forecast that PBF Energy will post -2.27 earnings per share for the current year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 805,300 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the acquisition, the insider now owns 20,634,898 shares in the company, valued at approximately $673,110,372.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 4,257,400 shares of company stock worth $135,462,347. 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 added to or reduced their stakes in the company. US Bancorp DE boosted its position in PBF Energy by 5.3% in the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock valued at $452,000 after buying an additional 395 shares during the last quarter. Leavell Investment Management Inc. boosted its position in PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 460 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after buying an additional 485 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 543 shares during the last quarter. Finally, Highland Capital Management LLC boosted its position in PBF Energy by 14.2% in the 2nd quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 546 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.