PBF Energy (NYSE:PBF) Lowered to “Underweight” at Piper Sandler

PBF Energy (NYSE:PBF) was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a report issued on Friday, Briefing.com reports. They presently have a $25.00 price objective on the oil and gas company’s stock, down from their previous price objective of $47.00. Piper Sandler’s price target would suggest a potential downside of 26.21% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. UBS Group lowered their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company lowered 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. Mizuho reduced their price objective on PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average price target of $47.91.

PBF Energy Trading Up 2.0 %

NYSE:PBF opened at $33.88 on Friday. The stock’s 50-day moving average is $35.87 and its two-hundred day moving average is $45.70. 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 stock has a market cap of $4.02 billion, a PE ratio of 2.34 and a beta of 1.56. PBF Energy has a fifty-two week low of $30.61 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. As a group, equities research analysts forecast that PBF Energy will post 1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 50,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $35.60 per share, for a total transaction of $1,780,000.00. Following the completion of the purchase, the insider now owns 18,179,598 shares of the company’s stock, valued at approximately $647,193,688.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 2,684,300 shares of company stock valued at $93,389,546. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares in the last quarter. Rise Advisors LLC acquired a new position in PBF Energy during the 1st quarter worth $27,000. National Bank of Canada FI bought a new position in PBF Energy in the 2nd quarter valued at $26,000. Creekmur Asset Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter valued at $29,000. Finally, CWM LLC raised its position 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 last quarter. 96.29% of the stock is owned by 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.