PBF Energy (PBF) Issues Earnings Results

PBF Energy (NYSE:PBF) released its earnings results on Thursday. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.25), Bloomberg Earnings reports. The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $5.23 billion. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. PBF Energy’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.71) earnings per share.

Shares of PBF Energy (NYSE:PBF) traded down $0.12 on Thursday, hitting $30.08. 1,169,787 shares of the stock were exchanged, compared to its average volume of 2,045,338. PBF Energy has a fifty-two week low of $18.48 and a fifty-two week high of $37.01. The firm has a market cap of $3,281.27, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.50.

A number of research firms have issued reports on PBF. Zacks Investment Research lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Scotiabank reiterated a “buy” rating and set a $41.00 target price on shares of PBF Energy in a report on Wednesday, January 10th. Morgan Stanley lowered shares of PBF Energy from an “equal weight” rating to an “underweight” rating and set a $37.00 target price on the stock. in a report on Thursday, January 11th. Citigroup increased their target price on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating in a report on Tuesday, November 28th. Five analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.30.

Several institutional investors and hedge funds have recently made changes to their positions in PBF. State Street Corp raised its holdings in shares of PBF Energy by 48.0% in the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter valued at $55,967,000. Acadian Asset Management LLC raised its holdings in shares of PBF Energy by 12,300.4% in the 4th quarter. Acadian Asset Management LLC now owns 1,110,832 shares of the oil and gas company’s stock valued at $39,380,000 after purchasing an additional 1,101,874 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PBF Energy in the 4th quarter valued at $21,897,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of PBF Energy by 187.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 874,725 shares of the oil and gas company’s stock valued at $31,009,000 after purchasing an additional 570,856 shares in the last quarter.

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PBF Energy Company Profile

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

Earnings History for PBF Energy (NYSE:PBF)

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