PBF Energy (NYSE:PBF) Earns Underperform Rating from Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of PBF Energy (NYSE:PBF) in a report released on Thursday, MarketBeat.com reports. The firm set an “underperform” rating and a $25.00 price target on the oil and gas company’s stock. Bank of America‘s price target suggests a potential downside of 25.82% from the company’s current price.

PBF has been the topic of several other reports. Scotiabank dropped their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wolfe Research started coverage on PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. The Goldman Sachs Group dropped their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.09.

PBF Energy Price Performance

Shares of PBF stock opened at $33.70 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. PBF Energy has a 12-month low of $30.17 and a 12-month high of $62.88. The firm has a fifty day moving average of $33.12 and a 200-day moving average of $42.51. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 5.61 and a beta of 1.55.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, equities research analysts forecast that PBF Energy will post -0.48 earnings per share for the current year.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 50,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the purchase, the insider now directly owns 18,179,598 shares of the company’s stock, valued at approximately $647,193,688.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 3,952,300 shares of company stock worth $129,050,026 over the last quarter. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares during the period. Rise Advisors LLC bought a new stake in PBF Energy in the 1st quarter valued at $27,000. National Bank of Canada FI acquired a new stake in PBF Energy during the 2nd quarter valued at $26,000. CWM LLC boosted its position in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of PBF Energy in the first quarter valued at $82,000. 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.