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

PBF Energy (NYSE:PBF) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday, FinViz reports. They currently have a $35.00 price target on the oil and gas company’s stock, down from their previous price target of $42.00. BMO Capital Markets’ price objective would indicate a potential upside of 3.86% from the stock’s previous close.

A number of other equities analysts have also commented on PBF. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Wolfe Research started coverage on PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho dropped their price target on PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Morgan Stanley dropped their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Three equities research 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. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus target price of $44.45.

PBF Energy Stock Performance

NYSE:PBF opened at $33.70 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. PBF Energy has a 12-month low of $30.17 and a 12-month high of $62.88. The stock has a 50-day moving average price of $34.29 and a 200 day moving average price of $44.34. The stock has a market capitalization of $3.95 billion, a P/E ratio of 2.33 and a beta of 1.56.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) 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 business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts forecast that PBF Energy will post 0.35 EPS for the current fiscal year.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 50,000 shares of PBF Energy stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the completion of the acquisition, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 2,952,300 shares of company stock worth $97,300,026. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Seven Eight Capital LP increased its holdings in PBF Energy by 138.5% during the 4th quarter. Seven Eight Capital LP now owns 12,359 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 7,177 shares during the period. Symmetry Investments LP increased its holdings in PBF Energy by 592.0% during the 4th quarter. Symmetry Investments LP now owns 77,500 shares of the oil and gas company’s stock worth $3,407,000 after purchasing an additional 66,300 shares during the period. Oracle Alpha Inc. purchased a new position in PBF Energy during the 4th quarter worth $533,000. Neo Ivy Capital Management purchased a new position in PBF Energy during the 4th quarter worth $571,000. Finally, Creekmur Asset Management LLC purchased a new position in PBF Energy during the 4th quarter worth $29,000. 96.29% of the stock is currently owned by hedge funds and other 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.