Bank of America Initiates Coverage on PBF Energy (NYSE:PBF)

Investment analysts at Bank of America began coverage on shares of PBF Energy (NYSE:PBF) in a research note issued on Thursday, StockNewsAPI reports. The brokerage set an “underperform” rating and a $25.00 price target on the oil and gas company’s stock. Bank of America‘s target price would indicate a potential downside of 22.84% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Scotiabank reduced their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group reduced their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $36.09.

PBF Energy Stock Up 2.9 %

Shares of NYSE PBF opened at $32.40 on Thursday. The company has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $42.74. The firm has a market cap of $3.84 billion, a PE ratio of 2.24 and a beta of 1.55. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. 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 (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The firm had revenue of $8.74 billion for 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 business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that PBF Energy will post -0.05 EPS for the current year.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 55,000 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $30.85 per share, for a total transaction of $1,696,750.00. Following the purchase, the insider now directly owns 23,462,398 shares of the company’s stock, valued at approximately $723,814,978.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 2,952,300 shares of company stock worth $97,300,026 in the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in PBF Energy by 95.3% in the 1st 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. Rise Advisors LLC purchased a new position in PBF Energy during the 1st quarter valued at about $27,000. National Bank of Canada FI purchased a new position in PBF Energy during the 2nd quarter valued at about $26,000. CWM LLC grew its holdings in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in PBF Energy during the 1st quarter valued at about $82,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.