PBF Energy (NYSE:PBF) Downgraded to “Underperform” Rating by Mizuho

PBF Energy (NYSE:PBF) was downgraded by equities research analysts at Mizuho from a “neutral” rating to an “underperform” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $31.00 target price on the oil and gas company’s stock, down from their prior target price of $33.00. Mizuho’s target price suggests a potential upside of 11.03% from the company’s current price.

Several other brokerages have also recently issued reports on PBF. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. TD Cowen decreased their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Scotiabank dropped their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Six analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and an average target price of $33.09.

PBF Energy Price Performance

Shares of PBF stock opened at $27.92 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a fifty-two week low of $27.27 and a fifty-two week high of $62.88. The firm has a market cap of $3.21 billion, a P/E ratio of -10.78 and a beta of 1.57. The business’s 50 day moving average price is $31.06 and its 200-day moving average price is $35.58.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business’s revenue was down 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $6.61 EPS. On average, equities research analysts anticipate that PBF Energy will post -2.87 earnings per share for the current year.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 250,000 shares of PBF Energy stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $31.78 per share, for a total transaction of $7,945,000.00. Following the completion of the purchase, the insider now directly owns 22,952,398 shares of the company’s stock, valued at $729,427,208.44. The trade was a 1.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 3,568,100 shares of company stock valued at $111,183,331 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new position in shares of PBF Energy during the 2nd quarter valued at $26,000. Quarry LP purchased a new stake in PBF Energy during the third quarter valued at $48,000. CWM LLC lifted its holdings in 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 acquiring an additional 569 shares during the period. Harbor Capital Advisors Inc. purchased a new position in PBF Energy in the third quarter worth about $59,000. Finally, Blue Trust Inc. grew its stake in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.