PBF Energy (PBF) Stock Price Down 9.9%

PBF Energy Inc (NYSE:PBF)’s share price was down 9.9% during trading on Friday . The company traded as low as $42.74 and last traded at $43.22. Approximately 3,821,202 shares changed hands during trading, an increase of 85% from the average daily volume of 2,062,794 shares. The stock had previously closed at $47.99.

A number of equities analysts have commented on PBF shares. ValuEngine downgraded shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 2nd. Macquarie raised shares of PBF Energy from a “neutral” rating to an “outperform” rating in a research note on Monday, July 9th. Mizuho started coverage on shares of PBF Energy in a research note on Wednesday, August 1st. They set a “buy” rating and a $55.00 target price on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $46.00 target price on shares of PBF Energy in a research note on Friday, August 3rd. Finally, Wells Fargo & Co reduced their target price on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.58.

The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.66.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. PBF Energy had a net margin of 3.40% and a return on equity of 9.82%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the business earned ($0.06) earnings per share. The business’s revenue for the quarter was up 48.4% on a year-over-year basis. Research analysts expect that PBF Energy Inc will post 2.76 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Smithfield Trust Co. acquired a new stake in shares of PBF Energy during the second quarter valued at about $121,000. Itau Unibanco Holding S.A. acquired a new position in shares of PBF Energy in the second quarter valued at approximately $132,000. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy in the second quarter valued at approximately $145,000. Cerebellum GP LLC acquired a new position in shares of PBF Energy in the second quarter valued at approximately $175,000. Finally, Sun Life Financial INC acquired a new position in shares of PBF Energy in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

PBF Energy Company Profile (NYSE:PBF)

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.

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