PBF Energy (PBF) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of PBF Energy (NYSE:PBF) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

Several other research firms also recently commented on PBF. Royal Bank of Canada reiterated a hold rating and issued a $30.00 price target on shares of PBF Energy in a research report on Tuesday, November 7th. Barclays upgraded shares of PBF Energy from an underweight rating to an overweight rating and upped their price objective for the stock from $28.00 to $39.00 in a research report on Tuesday, November 14th. Goldman Sachs Group downgraded shares of PBF Energy from a neutral rating to a sell rating in a research report on Tuesday, November 28th. Scotiabank restated a buy rating and set a $40.00 price objective on shares of PBF Energy in a research report on Thursday, December 21st. Finally, Macquarie restated a neutral rating on shares of PBF Energy in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. PBF Energy currently has an average rating of Hold and an average target price of $30.22.

PBF Energy (PBF) traded down $0.13 during mid-day trading on Thursday, reaching $36.23. 2,125,500 shares of the company traded hands, compared to its average volume of 1,789,133. PBF Energy has a 1 year low of $18.48 and a 1 year high of $37.01. The stock has a market cap of $4,000.91, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned ($0.16) EPS. PBF Energy’s revenue for the quarter was up 21.4% on a year-over-year basis. research analysts anticipate that PBF Energy will post 1.6 EPS for the current year.

Several large investors have recently bought and sold shares of PBF. BlackRock Inc. grew its stake in shares of PBF Energy by 94.0% during the 2nd quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock worth $202,832,000 after purchasing an additional 4,415,117 shares during the period. State Street Corp grew its stake in shares of PBF Energy by 48.0% during the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after purchasing an additional 1,611,707 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PBF Energy by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock worth $205,480,000 after purchasing an additional 635,728 shares during the period. Principal Financial Group Inc. grew its stake in shares of PBF Energy by 2,401.4% during the 2nd quarter. Principal Financial Group Inc. now owns 469,017 shares of the oil and gas company’s stock worth $10,440,000 after purchasing an additional 450,267 shares during the period. Finally, Northern Trust Corp grew its stake in shares of PBF Energy by 63.2% during the 2nd quarter. Northern Trust Corp now owns 998,936 shares of the oil and gas company’s stock worth $22,237,000 after purchasing an additional 386,930 shares during the period.

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About PBF Energy

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.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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