PBF Energy (NYSE:PBF) Rating Lowered to Neutral at JPMorgan Chase & Co.

by · The Cerbat Gem

PBF Energy (NYSE:PBF – Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $40.00 target price on the oil and gas company’s stock, down from their prior target price of $53.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 18.69% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Mizuho reduced their target price on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company dropped their target price on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Tudor Pickering raised PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, UBS Group lowered their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.73.

View Our Latest Research Report on PBF

PBF Energy Price Performance

Shares of PBF opened at $33.70 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy has a 1-year low of $30.17 and a 1-year high of $62.88. The stock has a market cap of $3.95 billion, a PE ratio of 2.33 and a beta of 1.56. The firm has a fifty day moving average price of $34.29 and a 200 day moving average price of $44.34.

PBF Energy (NYSE:PBF – Get Free Report) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations 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 for the quarter 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. As a group, sell-side analysts anticipate that PBF Energy will post 0.35 EPS for the current year.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 50,000 shares of PBF Energy stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the acquisition, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 2,952,300 shares of company stock valued at $97,300,026 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its position in shares of PBF Energy by 10.4% in the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of PBF Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock valued at $7,863,000 after acquiring an additional 359 shares in the last quarter. US Bancorp DE boosted its stake in shares of PBF Energy by 5.3% during the first quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 395 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in PBF Energy during the 1st quarter worth about $27,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

(Get Free Report)

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.

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