ValuEngine Downgrades PBF Energy (NYSE:PBF) to Hold

ValuEngine cut shares of PBF Energy (NYSE:PBF) from a buy rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Co boosted their price objective on shares of PBF Energy from $39.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. set a $30.00 price objective on shares of PBF Energy and gave the stock a sell rating in a report on Friday, November 1st. Raymond James reiterated an outperform rating and issued a $39.00 price objective (up previously from $34.00) on shares of PBF Energy in a report on Friday, November 1st. Cowen upgraded shares of PBF Energy from a market perform rating to an outperform rating and boosted their price objective for the stock from $30.00 to $42.00 in a report on Monday, October 21st. Finally, Tudor Pickering upgraded shares of PBF Energy from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $39.70.

NYSE:PBF opened at $30.47 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.64 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 5.47 and a beta of 1.60. The firm’s fifty day simple moving average is $32.04 and its 200 day simple moving average is $27.64. PBF Energy has a twelve month low of $21.09 and a twelve month high of $37.03.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. PBF Energy had a negative net margin of 0.36% and a positive return on equity of 4.77%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, analysts predict that PBF Energy will post 0.79 earnings per share for the current year.

The company also recently disclosed a dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy’s previous dividend of $0.29. PBF Energy’s payout ratio is currently 36.81%.

In related news, insider Carso S.A. De C.V. Inversora bought 200,155 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $32.68 per share, for a total transaction of $6,541,065.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 2,492,385 shares of company stock worth $75,012,020 in the last quarter. 3.50% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in shares of PBF Energy by 1.1% during the second quarter. Arizona State Retirement System now owns 86,984 shares of the oil and gas company’s stock worth $2,723,000 after acquiring an additional 927 shares during the last quarter. Advisor Group Inc. boosted its stake in PBF Energy by 58.2% during the 2nd quarter. Advisor Group Inc. now owns 2,932 shares of the oil and gas company’s stock worth $92,000 after acquiring an additional 1,079 shares during the last quarter. Keybank National Association OH boosted its stake in PBF Energy by 58.1% during the 2nd quarter. Keybank National Association OH now owns 21,587 shares of the oil and gas company’s stock worth $676,000 after acquiring an additional 7,932 shares during the last quarter. Coastal Investment Advisors Inc. boosted its stake in PBF Energy by 517.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,235 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 1,035 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in PBF Energy by 19.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,774 shares of the oil and gas company’s stock worth $173,000 after acquiring an additional 923 shares during the last quarter. 80.61% of the stock is currently owned by institutional investors.

About PBF Energy

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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